M&A Advisory

Impress Group

Advisers to engineering group, Impress Group, on its management buyout.

The deal

We’re pleased to have supported Impress Group, a North East-based engineering firm in a management buyout which saw the retirement of Directors George Peel, Steven Young and David Haley.

Impress Group, founded in 1997, has since grown to become a key name in the engineering sector, employing over 110 people at its sites in Blaydon and Washington and solving complex problems for clients across the region.

Impress Group is in new, but familiar hands with its Commercial Director Jason Young taking over as Managing Director. He is backed by Ben Suquet, Founder of Lucena Capital, who has invested in Impress Group and will work alongside Jason in mapping out the next phase of development for the highly regarded business. Jason will also retain the vast knowledge and experience of George and Steven as they continue to assume their current responsibilities for the next two years.

Our Corporate Finance team, led by Partner Abu Ali helped manage the transaction from start to finish.

Abu Ali, Partner at FRP Corporate Finance, said: “Impress Group has earned a fantastic reputation for the quality of its work and dedication to its clients, and the ethos of the business has been led by its founders, who continue to have such passion for the work they do.

“Working together, Jason and Ben supported by Steve and George will have an excellent opportunity to really take Impress Group to the next level, and we’re delighted to have played our role in making that possible.”

Jason Young, Managing Director at Impress Group, said: “This is an exciting time for the business, and we are looking at making some significant investment across the board. We’re well-placed to carry on growing and developing, and it is quite an emotional step for me to officially become MD. I am excited to get started and am very grateful to the team for their support in this becoming reality.”

Ben Suquet, Founder of Lucena Capital, said: “I was quickly very impressed with the depth of knowledge, talent and skillset in this business, the quality of the work they do, and the passion from Steve, George and Jason. They really care about the business, their employees, and their clients. George and Steve are not just owners who want to exit – they care so much, and that was very important in me investing.”

Tony Tomlin at Debere NE (tax) and David Gair at Mitchells Chartered Accountants (financial) supported Impress. Hill Dickinson (legal), Gerald Edelman (financial) and K3 Advisory (tax) supported Lucena Capital.

Deal summary

Date:

August 2023

Sector:

Business services

Deal type:

Selling a business

Deal size:

Undisclosed

Working together, Jason and Ben supported by Steve and George will have an excellent opportunity to really take Impress Group to the next level, and we’re delighted to have played our role in making that possible. Abu Ali Corporate Finance

Related team

Abu Ali

Abu Ali

  • Partner
  • Corporate Finance
  • Newcastle Centre