Forward advise on MBO of Knight Controls

Forward is delighted to announce the MBO of Essex based, Knight Controls Limited (“KCL”), by its management team Bart Janosz and Steve Hogben. Forward acted as lead advisor to the management team who acquired the business from its founder Barry Knight.

Established in 2004 by Barry, KCL has become a respected supplier of HVAC services to building operators across London and the Southeast. The Company carries out large-scale Building & Energy Management System install projects and contracted HVAC Servicing & Remedial works.

KCL successfully install and integrate Building Management Systems and Energy Management Systems to simultaneously maximise workplace comfort, minimise energy usage and in turn help companies’ meet their ESG targets.

Bart and Steve have over 22 years combined experience working for Barry, and the MBO had been part of the exit plans for Barry for a number of years. Bart commented “It has been easy working with Will Neill and the team at Forward Corporate Finance, from our first meeting to the completion of the transaction, they have always made us feel comfortable that the deal we were entering into worked for us, Barry and the Bank”.

Barry said “When I first met Rob Dukelow-Smith from Forward with my accountant Wayne Hockley, I could sense that he understood what I was trying to achieve with a handover of the business to my management team, and that collectively we would all be in safe hands for a successful outcome.”

Will Neill, who led the deal for Forward added, “It has been a pleasure working with Bart, Steve, Barry and Wayne and the many other local professionals involved in this MBO, a real team effort and the right strategy for Barry’s exit from the business”.

The MBO funding included a mixture of private cash injections made by Bart and Steve, a term loan provided by HSBC, and vendor financing from Barry.

HSBC provided the majority of the funding for the transaction through a term loan to the business with Matt Bowers, Relationship Manager East Anglia Business Banking, leading the transaction for the Bank.

A truly local deal for advisors we were able to introduce and work with, including legal advice for the management team provided by Petra Sharp and David Heller from Ellisons Solicitors, legal advice for Barry from Edward Garston at Spencer West, tax advice from James Bousted and Jess Allen at Rickard Luckin and accounting support from Wayne Hockley at Anthony Russel, who will continue to advise the new team post MBO.

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