Moore Kingston Smith advises Roycian on acquisition of McAndrew Martin

11 April 2024 / Insight posted in Article

Roycian has entrusted Moore Kingston Smith Corporate Finance to advise on the £7 million Management Buyout (MBO) of McAndrew Martin, an award-winning, independent multi-disciplinary design firm with projects in the UK, and a rapidly growing presence in international markets.

Established in 2014 with headquarters in Chandlers Ford, Hampshire, Roycian is a private equity firm specialising in the UK lower mid-market. They adopt a bespoke investment thesis for each transaction depending on the business needs.

McAndrew Martin was founded in 1989 by Bill McAndrew. It has headquarters in Cosham, Hampshire and an office in Monmouth. The firm provides tailored property services, including building surveys and inspections, architectural CAD, structural and civil engineering, mechanical and electrical engineering, building information modelling, security consulting and project management.

McAndrew Martin’s management team, led by Executive Chairman, Jason Marshall, secured support from Roycian to acquire the business from its retiring founder, Bill McAndrew. Moore Kingston Smith Corporate Finance provided financial due diligence and advice on the MBO.

The Moore Kingston Smith Corporate Finance team, led by Mike Orton, Transaction Services Partner, and supported by Charlie Killingbeck, Associate Director, quickly identified the implications of changing deal structures to ensure Roycian, and their investors, received real-time advice throughout the transaction.

The deal reinforces Roycian’s interest in professional services, adding an award-winning and leading firm with the potential for rapid growth in the property services sector both in the UK and internationally.

Del Huse, Roycian CEO said: “We’re delighted to have backed Jason and the team at McAndrew Martin. They have a great business, a clear strategy for growth, and ambitious plans to continue to innovate in a dynamic and evolving industry.

“We look forward to a successful partnership with the McAndrew Martin team and applaud the great job Moore Kingston Smith has done for us. Mike and Charlie have been a fundamental part of this project. Their expertise, quality of analysis and energy in driving this project forward have been vital in the successful completion of this deal.”

Mike Orton, Moore Kingston Smith Corporate Finance partner, commented: “It’s been a pleasure to work with Del and Sam Galuszka’s team at Roycian. As a private equity firm, they are unique and it’s rewarding to help them expand their portfolio with the McAndrew Martin MBO. With McAndrew Martin’s fast growth in the last three years and an ambitious five-year strategy, we look forward to hearing about their future success.”

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