“Acquisition was a new experience to me as an owner manager. I was filled with excitement and fear at the same time. To go into such a project, acquiring a £2.5m turnover business that was losing £300k per annum, was not for the faint hearted and certainly not something to undertake without some professional help. I was, in effect, putting all my chips on the roulette table and, as the major shareholder, it was my risk personally.
I interviewed a number of recommended advisors. I needed someone whom I could trust totally, who I liked, felt comfortable with and spoke my language. Someone who would share the truth freely with me whether that was what I wanted to hear or not. Highlight the pitfalls, tell me what their gut feel was, tell me the realities as they saw it.
John was my chosen partner for this and came out better than the others in interview by a mile. He delivered on his promises, was great in meetings, and gave the cold light of day viewpoint to counter-balance my blind enthusiasm to get the deal done. He didn’t dominate, rather guide, I knew he would tell me if it was a no go. He analysed with a calculated head. In the negotiation his steadying presence was critical. It’s always tough doing deals like this and it rarely goes according to plan as this one didn’t. We withdrew from the negotiation discussed our options and then went back in and did a deal that I was happy with then and still am 20 months later.
I would recommend John to anyone in an acquisition deal.”
Ian Howard, managing director
Derbyshire based Howardson Limited is the owner of the world renowned Dennis Mowers business that provides mowing equipment to a wide range of customers from local authority park departments to leading professional sports clubs and one-off tournaments including the FIFA World Cup. Howardson acquired ground maintenance specialist SISIS Equipment (Macclesfield) Limited in a business and assets deal creating a combined company with turnover in excess of £5m.
Skye Corporate Finance was appointed by Howardson to assist in the appraisal, structuring and negotiation of the transaction and to project manage the deal to completion.