RAM Services, a Burnley-based structural repair and refurbishment contractor, were advised by Farleys’ corporate team on the legal aspects of a management buyout which saw the company sold to its senior management team for an undisclosed fee.
RAM Services was established in 1980, providing services to the power and water supply and distribution sector, the civil engineering industry, and public sector organisations in the North West as well as the wider UK and sometimes overseas.
The shareholders took the decision to retire and exit the business with the deal allowing Contracts Director, Paul Howarth, and Business Development Manager, James Best, to take full control.
Commenting on the decision to sell, majority shareholder Richard Kayser said,
Selling a business that you have worked so hard to build up is always going to be a big decision. The last 40-plus years has been a fantastic journey, and we are happy to know that RAM Services is in great hands under Paul and James’ ownership.
“It was an absolute pleasure to assist Richard Kayser and the minority shareholders with their sale and to work alongside Jim Akrill at PM&M.
“The last year has thrown substantial challenges in the way of business owners and managers. In particular, the global crisis has highlighted to the parties of an MBO that, on one side there is a time to realise when you have successfully risen to your final commercial challenge and on the other, that there is now a new developing opportunity on the horizon which needs to be seized.
“The parties to this deal are no different. I am sure completion marks the beginning of an exciting onward journey for Ram Services and the MBO team, as well as for the departing shareholders who leave a company with an already great name in civil engineering.”
If you are looking to buy or sell a business, Farleys’ expert solicitors are on hand to provide comprehensive legal advice throughout the process. For more information about what we can do for you or to instruct our team, please call 0333 331 4463 or contact us by email.