Orbis On The Rise With The Sale Of Lift & Engineering Services
Lift & Engineering Services Limited (“LES”) has been acquired by ThyssenKrupp AG, the German industrial group in a multi-million pound deal. ThyssenKrupp generated sales of €41 billion in its last financial year.
The transaction was led by Birmingham-based corporate finance advisers Orbis Partners, who advised the shareholders of LES. Orbis is the UK partner of Clairfield International, a worldwide partnership of M & A specialists and investment banking firms.
LES is one of the leading independent lift service providers in the UK and operates from headquarters in Cradley Heath, West Midlands, with additional offices in Leicester and London. Established over 30 years ago, the company specialises in the design and installation of lift equipment, with a focus on refurbishment and modernisation projects, along with the provision of maintenance, repair and emergency response services.
LES was sold by brothers Dave and Wayne Haywood who will continue to manage the business post sale, working with ThyssenKrupp’s existing operations to leverage the profile of the company within the UK market.
As a family-owned company we needed to think about succession planning, key to which was identifying the right buyer. The advice we received from Orbis was second to none.
Dave Haywood, Managing Director
Orbis quickly identified the key value drivers in our business and made sure that these were clearly understood by the purchaser. Their calm and measured approach ensured that the deal process was extremely smooth, achieving a great result for the shareholders.
The enthusiasm of ThyssenKrupp for the company has been evident from an early stage in our discussions. We have been impressed with their vision for the future of the business and are confident that it will go from strength to strength.
The acquisition is a continuation of our ambitious growth plans. LES enjoys an excellent reputation with its clients. Its strong local presence, particularly in the Midlands and London, is an ideal fit with our market position in the UK.