Moore Barlow has advised on a management buyout of Limburn Boiler and Heating Services, a leading provider of specialist heating and boiler care services, as it embarks on the next stage of its growth journey.
Founded in 1979, Limburn Boiler and Heating Services has grown from a small, privately-owned family business that services large industrial boilers to a company that today supports a growing client base of corporate clients and government bodies, including Vector Aerospace, Bouygues, CBRE, the NHS, UK health and security agency and the Ministry of Defence.
The company, which is headquartered in Gosport, Hampshire, was owned by managing director Richard Daly. As part of the deal, Richard Daly has transitioned ownership of the business to the existing management team, which includes directors Celeste Stears, Leon Abery and Scott Crow, and with his support they will now drive forward the next stage of the business’ growth plans.
Commenting on the deal, Richard said: “Having led a management buyout myself back in 2011, I knew this would be a good opportunity to begin a succession plan and transition the ownership of the company to our existing management team. Celeste, Leon and Scott are already the driving force behind Limburn, they know our clients inside out and whilst I will remain in post as managing director, I have no doubt the business will continue to go from strength to strength under their ownership. I’m looking forward to supporting them on the next stage of growth.”
The deal was led by Kirsty Bowyer, senior associate in the corporate team at Moore Barlow and supported by solicitors Dean Outten and Isabelle Balch.
Kirsty Bowyer, senior associate at Moore Barlow, added: “Limburn is a quality, local business and it’s been a pleasure to support the entire team on a transaction that will position the company for growth and enable Richard to kickstart his succession plans.”
The 22-strong corporate team at Moore Barlow is one of the largest in the South of England. With offices in Guildford, Southampton, Lymington, Working, Richmond and London, the team supports clients in London and along the M3 corridor, as well as around the South Coast.
The deal was also supported by a team of local professional advisers, including Hattie Hole, manager at Meridian Corporate Finance and Cathy Revis, head of tax and transaction support at Fiander Tovell.
ENDS
Contact:
Sophie Millward, Citypress
Sophie.Millward@citpyress.co.uk | moorebarlow@citypress.co.uk
07890 616 295 | 0161 235 0350
