A team of five Directors at McCann and Partners have completed a management buy-out of the well-established engineering and building services business, which has offices in South Wales. The deal was part-funded by an equity and loan investment from the Development Bank of Wales.
Founded in 1955, McCann and Partners specialises in mechanical, electrical and public health (MEP) engineering, providing a full range of building services. A team of over 60 engineers and staff support clients in the UK’s healthcare, education, transport and commercial and residential property sectors.
Speaking on behalf of the management buy-out team, which comprises Directors Rhys Silcox, Chris Morgan, Anthony Collins, Daniel Carter, and Liam Poole, Chris stated: “As a team, most of us have been with McCanns for over 15 years and have helped to grow the business into one of the largest independent building services consultancies in Wales and the West. This management buy-out presents us with an opportunity to build on our success to date, and further strengthen our reputation for providing building services designs for outstanding buildings.
“Looking to the future, we will continue to focus on minimising the environmental impact of our projects through the delivery of Net Zero Carbon design, and we look forward to delivering many more projects with our fantastic team, clients and collaborators. It’s an exciting time for us all and the wider team.”
Kabitah Begum is a Senior Portfolio Executive with the Development Bank. She said: “As a Bank, we have over 20 years of experience structuring finance for business succession and offer a range of funding for management teams that want to own and run their businesses.
“McCann and Partners has a strong track-record of client delivery and growth. We have been impressed by the talented team, along with their deep understanding of the sector and ambition to further develop their range of award-winning services. We are pleased to be able to support their growth plans and look forward to the journey ahead.”
The McCann management buy-out was part-funded by a mix of debt and equity funding from the Development Bank’s £500 million Wales Flexible Investment Fund and the £25 million Wales Management Succession Fund that is financed by Welsh Government and Clwyd Pension Fund.
