Birketts guide independent private equity investor on latest acquisition
23 April 2021
Birketts has advised YFM Private Equity’s £80m Buyout Fund II (YFM) on its acquisition of Essex-based specialist property services company RGE Services Limited (RGE).
The buyout was led by RGE Managing Director, Scott Craig, who will remain in place supported by incoming chair, Stuart Black and Finance Director Matt Aspinall. Company founder Roger Greene will remain as a shareholder and investor.
Founded in 1982, YFM are an independently owned private equity investors transforming SMEs through investment. With over £300m of funds under management, YFM specialise in facilitating management buyouts and securing growth capital opportunities for businesses across all sectors. Boasting a strong regional office network, YFM oversees venture capital trusts as well as private equity funds.
The deal is the second from the PE house’s Buyout Fund II and it is hoped that the acquisition will bolster YFM’s existing robust regional presence.
With over 30 years’ experience in property services, repairs and installation, Essex-based RGE Services currently reaches a turnover of over £8m turnover per annum. Supporting customers across the public sector including local authorities and housing associations, RGE’s 80-strong workforce provides a range of services such as the testing and fitting of equipment including fire alarms, dry and wet risers, fire extinguishers, door entry systems, emergency lighting and CCTV, as well as electrical maintenance.
Adam Jones, Partner in Birketts’ Corporate Team commented: “Given YFM’s strong regional presence, Birketts’ Private Equity team felt like a natural partner for this transaction, as a result of our unique commercial knowledge of the local market. Whilst private equity investment activity continues to increase generally, the particular partnership between YFM and RGE sets the company on a course for further growth and we look forward to seeing where the journey takes them.”
YFM investment director, David Wrench, said: “Scott and the team have created a highly respected company with a strong track record of success in the public sector and we hope that with YFM’s support of the company will be well-positioned to benefit from the buoyant market. It was great to utilise the breadth and depth of the Birketts Private Equity team on the transaction, with Adam and the team providing an exceptional level of service across a number of complex areas and genuinely being a pleasure to work with. Led by Adam, the team consistently demonstrated their extremely diligent approach, strong technical capabilities, proactive project management and consummate composure throughout some intense periods. We look forward to the next time we can work with Adam and the team again, not just for their capabilities, but for their personable approach.”
The content of this article is for general information only. It is not, and should not be taken as, legal advice. If you require any further information in relation to this article please contact the author in the first instance. Law covered as at April 2021.