SOLD TO:

Cennox

INDUSTRY:

Manufacturing

Acketts Group is a leading provider of ATM installation and associated security services to customers throughout the United Kingdom.

Acketts Group owner, Hilary Fearn, received an expression of interest from Cennox, a major global provider of banking and retail support services. However, with her accountants overseeing the discussions, the deal failed to progress. Fortunately, Ms Fearn had had a preliminary consultation with a lead consultant from Avondale some months previously. 

Now in a position to advance with the sale, she decided to revisit the option of engaging a professional M&A practice and instructed Avondale to drive the project forward. Once on board, the team quickly set up a meeting with Cennox to try and resurrect the sale. By drawing out the synergies between the two companies, Avondale was able to highlight the long-term value of the acquisition to Cennox, resulting in an enhanced sale value for the client.
The project regained course, only for a number of potential deal breakers to emerge during due diligence.

Drawing on its deep expertise in leading business sales, Avondale was able to renegotiate with the buyers to keep the liability in place whilst preserving the pre-agreed deal value. Heads of terms were agreed, and the sale was brought to a swift conclusion. Ms Fearn was delighted that her decision to engage a professional advisor had resulted in an excellent financial outcome, and an exciting future for her business.

DISCUSS YOUR BUSINESS GOALS AND AMBITIONS IN COMPLETE CONFIDENCE

CONTACT US