Employee Ownership Trust
Financial Due Diligence
Pylon One
Contact Electrical
Founded in 1988, Contact Electrical offers a complete design and installation service for industrial, commercial and domestic premises, with clients including Mercedes Benz and Lotus. The management team required funding to undertake a management buyout. The deal will see founder, Mark Eames, exit the business after 36 years at the helm. Our Financial Advisory team was appointed to provide pre lend financial due diligence to both the lender and Contact Electrical, with a specific focus on contract accounting processes. The deal will allow the new management team to continue to grow the business’s footprint across the region and beyond, led by directors Ashley Manning, Leon Hudson and David Seaman. Adviser to East Anglia-based electricals business, Contact Electrical, on its management buyout.
Headquartered in Buckinghamshire, Pylon One specialises in the design, installation and operation of the ICT infrastructure for major events across the globe and has recently worked on occasions including London’s New Year’s Eve, King Charles’ Coronation and COP28 in Dubai and has recently transitioned to employee ownership. Our Corporate Finance team was appointed to manage the transaction. The team designed the structure of the Employee Ownership Trust (EOT) and undertook share valuation, tax and financial modelling. We also provided tax advice, including the preparation of the advance clearance applications required by HMRC to underpin the deal. Advisers to Pylon One and its shareholders on a successful transition to employee ownership.
“
“
With our colleagues so central to this success, our move to employee ownership represents a natural next step in our business’ development, to provide long-term stability and enable our team to share in our continued success.
We thank Joanne and the team at FRP for their support throughout the management buyout process. They quickly understood how our business works and articulated this clearly to the lender.
Mark Lyons Pylon One
David Seaman Contact Electrical
20
21
Made with FlippingBook - professional solution for displaying marketing and sales documents online