Foreman Roberts team in MBO
Building-services consultancy Foreman Roberts is under new ownership following a management buyout by its 8-strong management team led by managing director Stuart Alexander. As part of the long-term succession plan, the deal will see control transferred from Barry Shaw and Richard Kennedy to the existing directors — backed by private investment. Barry Shaw will continue in an advisory role. Since his appointment as managing director in 2004, Stuart Alexander has been instrumental in doubling the company’s profits. His team is backed by venture-capital-trust NVM, which has invested £7 million of the £14.7 million funding. Mr Alexander says, ‘This deal gives the management team the investment to fund our continued UK and international expansion and capitalise on the growing demand for our specialist sustainability services. ‘Environmental legalisation has made the role of the building-services engineer more critical than ever in the design and construction of buildings, and Foreman Roberts is ideally placed to ride the crest of this exciting industry growth.’ Peter Hodson, who managed the deal for NVM, commented. ‘This is an exciting opportunity to invest in a sector that is developing rapidly and is further enhanced by legislative change increasing the importance of building-services engineering. We recognise Foreman Roberts’ excellent position to capitalise on this growth, as well as the expertise of the management team.’
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