Well known Liverpool building sector consultancy Steven A Hunt & Associates is acquired by its management team from founder Steven Hunt in a deal backed by River Capital. Tony McDonough reports
River Capital is backing the management buyout (MBO) of Liverpool mechanical and electrical engineering consultancy Steven A Hunt & Associates to the tune of £500,000.
This deal represents the end of an era for founder Steven Hunt who started the business in 1989 when he was just 24. Since then it has established a UK-wide reputation in the building sector.
It works on everything from small-scale projects to large multi-million pound developments. The firm has multiple clients across the private and public sectors.
Its senior management team, comprising Neil Baines, Anne King, Dave Kelly and Dominic Sibbring, are leading the MBO. The exact value of the deal is not disclosed but, as of July 31, 2024, the business had net assets of £482,619.
Steven Hunt will remain with Steven A Hunt & Associates in a consultancy capacity and to provide continued support.
In the financial year ending July 2024, the company achieved revenues of more than seven figures. River Capital’s funding package includes debt and vendor deferment, with debt funding coming from the North West Business Growth Loan Fund.
This will allow the four-member management team led by managing director Neil Baines to acquire the 79% shareholding of Steven Hunt following a 21% shareholding purchase in 2023. That deal saw Steve Hunt move from managing director to chief executive.
Neil Baines said: “River Capital’s investment enables us to complete a carefully planned succession and provides the financial foundation for the next chapter in our company’s journey.
“With an increasing focus on sustainability across our key sectors of healthcare and education, we see tremendous opportunities ahead to design high-performing buildings that enhance wellbeing while minimising environmental impact.”
DSG Corporate Advisory and Morecrofts acted on behalf of the vendor while Langtons Corporate Advisory and Primas Law acted on behalf of the new management team.
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Jim Moore, investment manager at River Capital, added: “We are delighted to support the highly experienced management team at Steven A Hunt & Associates in this MBO.
“The company has demonstrated a consistent track record of profitability and is well-positioned for future growth.
“With the new leadership team’s complementary skills and deep client relationships, we are confident they will build successfully on the company’s 30-year heritage.”
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