“We are grateful to PM+M’s corporate finance team for their advice and guidance and helping us to successfully conclude the sale to Aureus. Having met with multiple interested parties we knew from our first contact with Aureus that they were very likely to be the favoured bidder. We are very proud of what we, and the superb Kitchequip team have achieved in developing a tremendous platform for Aureus to build from. I’m not sure we would have had the patience to deal with what comes along in these processes but Ryan Bilsborough was there at every stage, managing expectations and guiding us to the end. I would highly recommend PM+M and Ryan to anyone considering an exit.”Iain Moir, managing director at Kitchequip
Headquartered in Burscough, Lancashire, Kitchequip was established in 1993 and has grown to become one of the UK’s largest independent national commercial catering equipment distributors, offering bespoke design and fit of commercial kitchen solutions.
How PM+M helped
Ryan Bilsborough, corporate finance manager at PM+M, worked closely with Kitchequip shareholders from the outset and led the deal to a successful completion. This included:
– Providing a market appraisal at a value the shareholders could achieve by selling with PM+M
– Producing a full information memorandum for the business
– Producing a teaser document
– Developing a list of prospective trade buyers as part of our targeted marketing process
– Discreetly and confidentially approaching the key decision makers of each business, using the teaser to float the acquisition opportunity
– Producing and facilitating non-disclosure agreements
– Enabling buyer enquiries
– Arranging and attending buyer meetings and site visits (both in person and remotely)
– Handling and negotiating multiple offers/heads of terms to maximise deal value
– Assisting with all legal and financial due diligence enquiries, as well as supporting the share purchase agreement and disclosure letter
Ryan worked collaboratively with the PM+M tax, financial planning and accounting teams, to provide advice on how to structure the deal in tax efficient manner, along with accountancy and due diligence support.
The outcome
Successful exitRyan worked with the owners on the deal throughout the whole process to ensure a smooth and successful exit
Peace of mindThe acquisition means Kitch Equip are now on an exciting growth trajectory as part of Aureus Acquisitions
CollaborationThe PM+M team collaborated on the deal to provide support on the deal from beginning to end, seamlessly leading the sale of Kitch Equip to completion
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