Fall Protection UK

We are pleased to have advised Fall Protection UK, a Gateshead-based provider of safety decking services to the construction industry, on its successful management buyout.

Founded in 2003, Fall Protection UK supplies and installs fall prevention systems and working platforms for a wide range of housebuilding and commercial projects throughout the North East and North Yorkshire.

Our Newcastle team, led by Partner Abu Ali and supported by Associate Director Graham Brown and Manager Niall Choat, was appointed by the business’ shareholders to develop and deliver a succession plan that would allow its founder and former Managing Director, John McGowan, to retire, while securing the firm’s legacy and positioning it for future growth.

Our corporate finance team designed the MBO structure and subsequently introduced third-party debt adviser CCBS to support the management team with a finance raise, before supporting the process to completion. This included liaising with the debt adviser, leading legal negotiations and designing a mechanism that would provide price certainty for all parties, while avoiding the expense of completion accounts.

Abu Ali, Corporate Finance Partner, said: “MBOs can offer company founders an attractive alternative to taking the business to market, enabling them to exit the company while ensuring a smooth transition to the existing management team.

“With growth in UK housebuilding high on the national agenda, this is an exciting time for Fall Protection UK’s management team to step into an ownership position and apply their skill and experience to take the business to the next level. We wish them and the entire team best of luck for the future.”

John McGowan, former Fall Protection UK Shareholder and Managing Director, said: “This deal marks the start of a new chapter for Fall Protection UK and FRP Corporate Finance gave us confidence that this was the right option for the business. The team helped secure an excellent outcome for all parties and their guidance through every step of the MBO process was invaluable.”

Other sell side advisers were Sintons (legal) and 1st Cloud Accountants (accountancy). Buy side advisers Savage Silk (legal) and CCBS (debt advisory).