We have advised on Rockpool Investments on the management buyout of Cambridge Maintenance Services, a leading provider of mechanical and electrical engineering services in the UK. Clydesdale Bank plc provided senior loan facilities to support the acquisition.
Cambridge Maintenance Services is a nationwide supplier of technical engineering services, offering mechanical and electrical planned preventative maintenance, as well as round-the-clock reactive services for a diverse set of clients.
This deal is the fourth Taylor Wessing has acted on in the last 18 months. In March 2020, the firm advised on Rockpool's investment in MomentumABM. In July 2019, the firm advised Rockpool on its backing of the management buyout of Boston Multi Family Office. In December 2019, the firm advised on Rockpool's investment in RWL Security Solutions and its acquisition of EZCCTV.com, together forming the “Fortus Group”. The deal required expertise drawn from across the firm, including its private equity, banking and finance, tax and employment teams.
Private equity partner Jonny Bethell, who led the Taylor Wessing team, said: "Cambridge Maintenance Services has experienced an impressive growth phase amidst changeable market conditions this year. We are delighted to have worked alongside a client we know well to deliver this investment, which is testament to the strength of our collaborative relationship and the skills we have in our firm."
Tom Coey, who led the investment for Rockpool, said: “Taylor Wessing once again delivered an efficient legal process and provided exceptional support on this deal. We would like to thank the whole Taylor Wessing team for their hard work on what proved to be a complex transaction, and we look forward to working with them again in future.”
The team was led by partner Jonny Bethell with the support of private equity associate Jessica Aston. Banking and finance partner Lerika Joubert along with associates Kate Bowden and Scott Perry advised on the debt financing. Tax input was provided by partner Liz Wilson and associate Madison Lawler with employment advice provided by associate Katie Davenport.