East Grinstead-based Sturdy Edwards Financial Services has been acquired in a management buyout supported by award-winning corporate finance firm EMC.
The MBO allows Sturdy Edwards co-founder Terry Edwards to pass on the reins of the long-established business which advises individuals and businesses on pensions, mortgages and investments. The management team was led by David Bone and Paul Clarke with funding coming from RBS.
EMC Director Michael Pay said
“It was a delight to work with Terry, David and Paul to facilitate the transfer of ownership to the next generation of the company\s management. For many owners it is important that their legacy lives on through the business and undertaking a management buyout is an excellent way to achieve succession to the mutual benefit of everyone involved.”
David Bone said:
“Working with Michael made the complicated task of structuring and securing this kind of funding far easier than dealing directly with the banks. His advice and contacts have proved invaluable throughout the process, bringing a pragmatic approach to issues that ensured a smooth transition. We’re now looking forward to continuing to grow the fantastic brand that is Sturdy Edwards.”
Terry Edwards went on to say
“Michael Pay was highly professional, most personable and filled us with confidence from the outset of the transaction. Despite numerous obstacles that were presented Michael was always reassuring that we would reach a satisfactory conclusion. Most of all he kept a sense of humour throughout proceedings. I would highly recommend his services to any prospective client that wishes to arrange an MBO or sell their business in the open market.”
EMC acted as corporate finance advisers to the company with legal advice being provided by Jonathan Grant of DMH Stallard. Funding for the deal came from RBS.Back to all news