MSIF supports consultancy buyout
A St Helens consultancy which counts Microsoft, London Stock Exchange and Bank of America among its customers has undergone a management buyout, supported by the Merseyside Special Investment Fund (MSIF).
EDP Heath, Safety and Environmental Consultants was founded 25 years ago by David Skews and provides advice to a range of blue chip clients.
Managing director Mark Haydock led the MBO team which also included director Andrew Nicholson, non-executive director Steve King and programme manager Carol Lennon.
Haydock said: "We work with businesses across a range of sectors and have a 300-strong client base across the UK, Europe, Middle East and Asia providing services to clients from the financial services, technology, professional services, retail, agriculture, automotive and legal sectors.
"There are opportunities for us to expand in to the facility management and property sectors and this is part of our growth strategy in the coming months. MSIF have been a fantastic support."
MSIF investment director Paul Humphray added: "Mark was brought into the business 12 months ago as managing director with a view to eventually leading a buyout team as part of the company’s succession strategy for the original stakeholders retiring.
"He has an exemplary track record of running businesses of a similar size and I have no doubt he and the other directors will make the most of the company’s excellent growth prospects."
Legal advisers involved in the transaction were Kieran Donovan at Bermans for the buyout team and Heather Summers at DTM Legal for the vendor. Andy McCall at Langtons provided corporate finance advice to the vendor.