M&A Advisory

A&N Lewis

Adviser to Cardiff-based building and decorating contractor, A&N Lewis, on its MBO.

The deal

We have advised the management team of Cardiff-based building and decorating contractor, A&N Lewis, on its move to take full ownership of the business.

Founded in 1982, A&N Lewis originally specialised in painting and decorating, before expanding into building works, working in sectors including residential, retail, education and healthcare. It now employs 90 staff from its Ely base, with recent projects include work for Cardiff University and AXA Insurance as well as the completion of a £2.3 million project for Spire Healthcare.

Our Corporate Finance team led by Partner, Gary Partridge, worked with the management team to refine its existing business plan and approach a number of funders. Development Bank of Wales was ultimately selected as the best fit to enable the MBO team to deliver on its plans. FRP Corporate Finance led the transaction from start to finish to ensure that it completed in a smooth and efficient manner.

A&N Lewis’ three-strong management team, led by new CEO Andrew Gentile, used a loan from Development Bank of Wales to fund the management buyout.

Andrew Gentile, CEO of A&N Lewis, said: “A&N Lewis is renowned for its customer-centric approach and that’s helped us build our customer base across Wales and parts of the UK, securing a significant amount of repeat business.

“In recent years we’ve been able to expand our refurbishment services to cover specialist jobs like schools, fire stations and hospitals, and we are excited about growing this and other areas of the business moving forward.

“The management buyout will allow myself and the other directors greater scope to invest our extensive knowledge and experience of the business and drive the company onwards under new ownership.”

Deal summary

Date:

March 2016

Sector:

Property

Deal type:

Raising Capital

Deal size:

Undisclosed

Related team

Gary Partridge

Gary Partridge

  • Partner
  • Corporate Finance
  • Cardiff