INDUSTRY
Avenue Building Company Ltd (ABC) specialise in the design, build & commissioning of medical facilities including operating theatres and diagnostic suites such as MRI, CT and X-ray. The owner wished to sell the company to a buyer that could scale the business to the next level and then focus on enjoying his retirement.
Avondale were approached by ABC’s owner to sell the niche installation business and hand over to second tier management so that he could retire. Shortly after going to market we received strong interest from both trade and institutional investors, but Ronesans Holdings led the charge. Based in Turkey with an international presence, revenues over €4bn and 18,000+ employees, they promptly made their offer.
Ballast Nedam, part of the Ronesans Group, respected the vendors’ wishes for a clean deal, and ultimately completed their 2nd UK acquisition, giving them a foothold in the medical sector. Despite Avenue Building Company’s heavy reliance on one customer, Ronesans/Ballast Nedam soon became comfortable as they already had ongoing dealings with the same client.
“…I found the whole team to be helpful, informative and explained the intricate details with practical advice and examples. It’s a long process but the support I received was really helpful in getting me past the post. The marketing of my company was great, the response was fantastic…and all potential buyers were well vetted and appropriate to my business. I have only done this once and should I do it again I would talk to Avondale as soon as possible…talk to them now and get ready. Tim Hardman and Marc Labbett were indispensable on my project. Great sensible advice and professional approach produced a great result for me…”
A.J. Pallant – Owner, Avenue Building Company
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