| Date: | September 2021 |
|---|---|
| Project: | Management Buyout |
| Sector: | Business Services |
| Role: | Lead advisor to the management team |
Forward Corporate Finance has announced the successful completion of the final stage of the management buyout of Platinum Facilities & Maintenance Services Limited (Platinum Facilities) by its Managing Director, Glen Cardinal.
In 2019, Forward Corporate Finance supported Glen in the acquisition of a majority share of the business from its previous owner. Following some stellar growth in the two years that followed, Glen has now acquired the balance.
Platinum Facilities serve clients across London and the Home Counties, delivering specialist mechanical and electrical services to a variety of private sector businesses in the corporate, legal and banking sectors, working directly with major organisations or through managing agents and landlords.
Forward Corporate Finance has worked with Glen since late 2018 to negotiate, structure, source funding and deliver the initial transaction. Funding was provided by alternative SME lender Caple, whose team included Dominic Buch and Sean Brophy who worked hard to deliver a five-year term unsecured lend. Tony Young, at Secure Trust Bank Commercial Finance, created a flexible working capital facility to enable the MBO transaction to complete.