Fri, 19 Apr 2024 | MBO/MBI
A building services consultancy in the North East has moved to employee ownership. Humphrey M&E Consultants, based in Boldon, offers a range of mechanical and electrical (M&E) building services to customers from the corporate and public sectors.
Humphrey M&E Consultants has been operating for 40 years. Originally established in Gosforth, the company relocated to Durham before subsequently moving to its current site in Boldon.
As part of its long-term succession plan, 50 per cent of the business has now been transferred to the company’s 20-strong team. Following the transaction, day-to-day management of the company will continue under its directors, led by Managing Director Michael Bainbridge.
Bainbridge commented: "The transition of the company to become employee-owned is part of a long-term succession plan. High quality, hard working, and talented people have always been at the heart of HME. The move reinforces our commitment to our employees and customers and allows our staff to share in the company's success and actively participate in its future direction."
Newcastle-based WilliamsAli Corporate Finance served as lead corporate finance adviser on the deal, with legal advice provided by Womble Bond Dickinson’s Jeremy Smith.
WilliamsAli Managing Director Phil Williams said: "HME is built upon the excellence and commitment of a highly qualified and loyal workforce. Employee ownership therefore represents the ideal ownership structure to ensure the business thrives long into the future. We were delighted to work closely with the HME team to help put that structure in place."
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