Pierce advises on sale facilities management firm sale

Blackburn based business advisory and accountancy group Pierce has supported the sale of Northernshire Facilities Management and Catering Partnership to Climate Care Solutions.

The transaction enabled Graham Heath and Denise Southworth to realise the value created through more than 30 years of ownership and growth, while securing a long-term future for the businesses. 

The businesses operate nationally, serving customers across England, Scotland and Wales and supporting more than 1,000 locations nationwide, and has built long standing relationships with organisations including McDonald's, Mitchells & Butlers, Robinsons Brewery and Parkdean Resorts. 

Pierce provided comprehensive corporate finance and tax advisory support throughout the transaction. The corporate finance team, led by Jimmy Moore, associate director, and Khadija Patel, corporate finance advisor, delivered end-to-end support on the disposal, including valuation advice, strategic option appraisal, buyer identification, market engagement, negotiations and project management through to completion. 

Specialist tax advice was provided by Stephen Kerrigan and Josh Donohoe, who advised on the pre sale restructuring of the group, bringing Northernshire Facilities Management and Catering Partnership under a single group structure. Their work also included the preparation of a tax steps plan, obtaining HMRC clearance, and reviewing the tax implications of the transaction documentation.

The shareholders were also supported by Farleys Solicitors, with Richard Bell and Amy Jones from the firm's corporate law team advising on the transaction, and Molly Greenwood from the property law team providing specialist real estate advice.

The transaction provides a succession solution for shareholders Graham and Denise, while safeguarding the future of both businesses, their employees and long standing customer relationships. 

Graham Heath, shareholder and seller, said: "After more than 30 years of building Northernshire it was extremely important to us to find a buyer who would continue to support our employees, maintain the high standards our customers expect and help take the business forward.

"Climate Care Solutions proved to be the right fit, sharing our values and commitment to service excellence. Pierce provided invaluable advice throughout the entire process and helped us achieve a successful outcome for everyone involved."

Denise Southworth, shareholder and seller, said: "Having helped build and support these businesses over many years, it was important to us to find a buyer who recognised the value of our team, customer relationships and reputation in the market.

"Climate Care Solutions provides an excellent home for the group's future growth, and we are delighted to have achieved an outcome that protects the legacy of the businesses while creating opportunities for employees and customers alike."

Pierce associate director of corporate finance, Jimmy Moore, said: "Together, Graham Heath and Denise Southworth have developed the group into a trusted specialist services provider with a reputation for quality, technical expertise and long-standing customer relationships across the UK, from exploring strategic options, securing a strong buyer and through to completion.

"This deal represents an excellent outcome that secures the future of the business while enabling the shareholders to realise the value they have created over many years."

Nick Carter, chief executive at Climate Care Solutions, said: "Northernshire is a highly respected business with a proven track record, strong customer relationships and an experienced team.

"This acquisition represents an exciting opportunity for Climate Care Solutions to further strengthen our service offering and nationwide coverage. We look forward to working closely with the Northern Shire team and investing in the future growth of the business while maintaining the high standards customers have come to expect."