Management Buyout Of Hire Services Aggregator
Nationwide is a leading hire services aggregator. Founded in 1995 and headquartered in Fareham, Hampshire, Nationwide Hire manages a network of over 4,000 suppliers based in over 9,000 locations across the UK and Ireland with access to more than five million products. With over 70 staff and turnover exceeding £16 million Nationwide Hire provides major plant and machinery, equipment, tools and specialist services to companies operating across a wide range of sectors including construction, facilities management, retail, events, waste management and crisis support.
I am delighted that Orbis found a strategic investor for the business that will allow Nationwide to achieve our goals and develop the company. Many thanks for your support, brainpower and financial acumen to get us to a completed deal
Jonathan Holley, CEO
Orbis were retained to evaluate different exit options on behalf of the company. Following on from the review, the preferred option for both the shareholders and management was a private equity backed MBO. Orbis led the MBO, identifying Livingbridge as an ideal partner to help deliver management’s vision for the business. Livingbridge’s £15 million investment was coupled with a multi-million pound acquisition finance and working capital facility from Clydesdale & Yorkshire Bank.
- Led an options review to help the shareholders and management understand, evaluate and choose the deal type (debt or equity) that best met their objectives
- Developed a detailed forecast model and business plan for presentation to funders
- Selected private equity firms and debt providers to fund the transaction
- Negotiated the transaction including price, deal & equity structure and debt facility
- Prepared the business for due diligence and supported management through the process
- Worked in conjunction with the lawyers to agree SPA and investment agreement issues
- Overall project management through to a successful conclusion