Managing Director (RJ Lift Services)
Former RAF contracting engineering. Richard left to join the family business. In his 8 years since joining he helped develop lift maintenance company, RJ Lift Services, from £2m turnover to over £15m and in the process increasing EBITDA to over £4m.
To build a national lift services group capable of challenging the global blue chip manufacturers and taking increased market share. The business has been prolific in its organic growth from a centralised middle-back office and now has the right to win contracts from major private and public customers.
Advisory MBO – Management Buy-Out
Advisory Exit – Employee Ownership Trust
Initially a target for a previous Independence client, the family chose not to sell to private equity but instead wanted to work with Independence to help the business navigate succession and scale.
Assisted design and delivery of an MBO; passing control down to the son.
Assisted management with growth plan including appraising accretive M&A as a growth strategy to complement organic
Advised shareholders on value realisation options and designed and built an Employee Ownership Trust structure to deliver continuity/equity benefit to the workforce whilst also delivering a significant tax free return on investment for shareholders
Research
Shareholder options appraisal
Negotiation with stakeholders
Group reorganisation advice
Transaction design and structuring
Fundraising – senior debt
Post-deal board support
Stakeholder management of funders
Succession planning
Rolling acquisition targeting/planning
“Independence have proven to be a great partner for our business and we really value their expertise. They have not only worked hard to learn about our business and support our needs, they have shared guidance on strategies which have collectively brought great value to the company, family and the team remaining within the business”
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