Management buyout at Hiltons is completed
New management at Hiltons following a management buyout — on the left is Mick Gaunt, managing director who led the buyout, and finance director Kym Ellington with, on the right other management of Hiltons and advisers.
A management buyout led by managing director Nick Gaunt of Nottingham building-services specialist Hiltons has been completed. The business has been in the Hilton family for over a hundred years and has an annual turnover of £25 million. It specialises in the design, installation, commissioning and maintenance of a wide variety of types of M&E systems. The buyout sees the control of the business transferring out of the Hiltons’ family for the first time in the company’s history. The current owner and chairman, Geoff Hilton, who is the grandson of the founder, is retiring from the business. The other members of the buyout team are divisional directors David Ellis, Mark Harvey and Neil Green, who are all long-standing members of the senior management team, together with finance director Kym Ellington and newly appointed director John Gorensweigh, who himself has over 25 years’ experience in the industry. Mick Gaunt says, ‘The buyout marks the start of an exciting new era for Hiltons, building on the solid foundations and traditional values laid down by the Hilton family.’ Kym Ellington says, ‘The business has a strong order book with some of the best companies and partners in the construction industry, and we are excited at the prospect of developing the business into the future.’ Rick Wilson of accountants and business advisers PKF, who advised the buyout team on the deal, says, ‘Hiltons is a strong player that continues to secure high-quality contracts. Its portfolio of products and clients is robust, and this deal provides a roadmap for the company to enjoy more growth and success in the medium and longer term. The vision of the management team highlights the calibre of local entrepreneurial talent, which is good for the Nottingham economy and for the engineering sector.’