Team negotiates exit sale for shareholders

Background

Headquartered in Needham Market, Suffolk, with locations across the UK, BTS Group had a combined turnover in excess of £22 million and comprised three successful businesses: BTS, the UK’s award-winning leading independent provider of vegetation control services (in an Ofgem-regulated market with high barriers to entry); TBF Traffic, a traffic management specialist for low and high-speed control; and TBF Scaffolding, providing scaffolding for small and large-scale projects across East Anglia.

Action

The shareholders of the Group had decided they wanted to exit the business, and appointed FRP’s Corporate Finance team as lead adviser to explore a potential sale. The team assessed the full range of options with the board, before creating a professional information memorandum to present to potential buyers, which highlighted the Groups numerous tangible growth opportunities. Strategic buyers around the globe were then identified and approached.

Outcome

Having negotiated an attractive deal structure, the team secured the sale of BTS Group to RSK Group Ltd, a leading provider of engineering and environmental consultancy and technical support services with a turnover in excess of £100 million and more than 50 subsidiaries. Our Corporate Finance specialists were able to lead on the transaction throughout the process, delivering a deal that met the shareholders’ expectations, and provided opportunities for management to benefit from future growth.