London-headquartered fit-out and refurbishment company BW Workplace Experts has completed a £3 million management buy out (MBO) of the business following a period of consistent growth and record financial performance, with revenues exceeding £150 million.
HSBC supported the management buy-out of BW Workplace Experts with a £3 million funding package The deal will allow the new team to drive significant growth, helping to create up to 100 new jobs. It also gives the firm’s Chief Executive, Steve Elliott and four directors – Finance Director Andrew Bradley, Customer Experience Director Rob Frank, Pre-Construction Director Colin Ogden and Sales and Marketing Director Anthony Brown – a majority shareholding of 60 per cent. The company’s founders and co-owners retain a combined shareholding of 40 per cent.
Andrew Bradley, Finance Director at BW Workplace Experts, said: “BW’s 17-year track record has seen it become a significant player in the UK fit-out and refurbishment sector. With support from HSBC we are able to retain a majority stake in the company, helping us achieve our ambitions of becoming a £200 million revenue business over the next year.”
Recent large projects have included Selfridges London, JP Morgan Chase, Estee Lauder and Primark.