Mon, 18 Nov 2024 | MBO/MBI
Merseyside-based HVAC specialist Kimpton, which counts ex-Beatle Paul McCartney as a client, has completed a management buyout for an undisclosed sum.
The Bromborough-based business specialises in M&E, HVAC, commercial fit-out, and service and facilities management and celebrated its 60th anniversary last year. Its work has included designing and installing the HVAC systems when Paul McCartney co-founded the Liverpool Institute of Performing Arts in 1995 and the entire water and gas pipe network at retail and leisure site Liverpool One.
The company will now be led by a team including new managing director Tim Davis who was formerly the company’s general manager and Linzi Kelly who steps up to become financial director.
They are joined on the board by five experienced colleagues from the existing senior team – Paul Cooper, Scott Bennett, Paul Davies, Andy Morgan and Matt Breakwell – who share many years of operational, service and project delivery expertise.
Departing chief executive, Richard Kimpton, who himself completed an MBO from his father and company founder Eric Kimpton in 2001, will remain invested in the business and will continue to support the MBO team in a non-executive capacity as part of a long term succession plan.
Long-serving Kimpton director, Ron Tierney, will retire from the business following the MBO, while Colin Swanick is also retiring as a director but will remain employed within the business.
The move follows a period of marked expansion over recent years, led by the new management team, which has seen Kimpton broaden the diversity of its revenue through an expansion of its service offer into full facilities management, turnkey commercial and science fit-out, with a focus on decarbonisation and net zero solutions, alongside the team’s developed MEP specialism in high rise residential construction.
Davis said: “Our strong customer base continues to grow, encouraged by our expanded range of services, and the dedication of our team. The vision we have for the company is ambitious and yet pragmatic."
Richard Kimpton said he had started the MBO process over five years ago. “It has been a privilege to lead Kimpton for the past 23 years. We are lucky to have such a highly experienced leadership team here, some of whom have been with us since they were apprentices. I have no doubt that the MBO team that we have in place will continue to build upon our long history, and are the right team to secure both long term stability and growth aspirations for Kimpton as a trusted company within the industry.”
Find out more about the increasing popularity of Management Buy-Outs
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