Our Corporate Finance team recently advised Artic Building Services Ltd during its sale to Rockpool backed technical services business, Mecsia Group.
As one of the fastest growing technical services businesses in the UK, Mecsia Group completed its acquisition of Artic Building Services in July 2023. With revenues exceeding £100m, Mecsia is continuing to pursue strategic acquisition opportunities.
Artic offers similar mechanical and electrical maintenance services, primarily to the healthcare, education and commercial property markets, with deep relationships across the NHS and several leading universities. Artic management, led by joint Managing Directors Colin Trowell and Paul Lucas, will continue in their existing roles as part of the Mecsia Group.
The acquisition was supported by additional equity funding from Rockpool and senior loan funding from incumbent lender, Virgin Money.
Menzies Corporate Finance director, Kevin Paget and corporate finance executive James Kidd, worked alongside Spencer West LLP, led by Simon Wilson, to advise Artic Building Services at every stage of the sale process. Menzies tax specialists also provided advice to the Senior Management team and assisted with structuring the deal.
Colin Trowell, managing director of Artic Building Services, said:
“From day one, Menzies’ corporate finance team and legal advisors at Spencer West LLP, took the time and effort to really understand our core business operations, drivers, and desired aspirations.
“They provided the right level of support and demonstrated real skill in breaking down the individual components of the deal and guiding us through the process from start to finish. They acted as an extension of our own Senior Management team, providing the additional resources needed to manage the deal process, which enabled us to stay focused on achieving our desired growth.”
Jon Coiley, CEO of Mecsia, said, “The acquisition of Artic brings considerable in-house engineering expertise and new customer relationships to Mecsia, further strengthening our credentials in both the healthcare and education sectors. Artic’s customer base will benefit from Mecsia’s national presence and broad portfolio of technical services. We are pleased to have completed Mecsia’s third strategic acquisition and extend a very warm welcome to our new colleagues at Artic”.
Rockpool and Mecsia were advised by Taylor Wessing LLP (legal) and PKF Corporate Finance (financial and tax due diligence). Virgin Money was advised by CMS Law (legal).
ABOUT MENZIES CORPORATE FINANCE TEAM
Our award-winning team take a quality driven, proactive and personal approach to advising transactions. Our corporate finance team will provide you with director-level advice and support, while working alongside other Menzies employees from the wide-ranging skill set available within the firm, to ensure that the advice we give encompasses all your needs.
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