Management buyout for major building-services provider is completed
JS Wright, one of the UK’s longest-established building-services suppliers, has been bought out by its senior management team. The company is now owned by its team of five executive directors (pictured), who have run the business for the past 10 years. This M&E specialist was founded in 1890 and has its headquarters in Birmingham and offices in Bristol and London. Turnover is projected to reach £50 million this year.
Marcus Aniol (second from left), who was appointed managing director in 2008, is now a major shareholder in the company. He is pictured with (from left) national mechanical contracts director Phil Leech, national electrical contracts director Paul Featherston, finance director Martin Roberts, and national design and estimating director Andrew Smith.
The buyout follows the retirement of previous owners and main-board directors Edwin Moore and David Osborne, who stepped down from the day-to-day running of the company in 2006.
The corporate finance team at the Birmingham office of accountants MHA MacIntyre Hudson advised the management team on the buyout and provided expert tax advice. The Wilkes Partnership provided legal advice to the management team. Legal advisers to the vendors were Shakespeare Martineau. Funding for the transaction was provided by NatWest Bank.
JS Wright has grown over the last 10 years and now has over 150 directly employed staff.