7th April 2008
Ahead of the CGT changes introduced at the weekend, Bolton-based accountancy, Cowgill Holloway, advised KDC Contractors, a Denton-based demolition specialist, on its sale to its management team for £12.5 million.
Established in 1985, KDC Contractors specialises in decommissioning, demolition and remediation contracts in the nuclear, petrochemical and pharmaceutical sectors.
The advisory team at Cowgill Holloway was led by corporate finance partner, Paul Stringer, who commented: “KDC Contractors has a strong team and this MBO will allow the company to expand, particularly in the nuclear sector. The company is forecasting revenues of more than £20 million over the next year.”
Owner Barry Kilroe sold KDC Contractors to a management team comprising Ian Smithson, Martin O’Donnell, Will Simpson, John Bloodworth and Christopher Sandground. The management team was backed by Barclays Ventures.
Cowgill Holloway accountants and Gorvins solicitors advised KDC Contractors on the MBO. BDO accountants and Addleshaw Goddard advised the management team.
Disclaimer
The information was correct at time of publishing but may now be out of date.
