Ac electrical
Sector: Electrical contractor
Type of business: Electrical installation and maintenance, predominantly in the retail, supermarket, local government and hospitality sectors, and specialising in electric vehicle charging
Location: Blackpool
Motivation for sale:
To achieve further growth and strengthen through strategic recruitment which would enable the company to procure and efficiently manage a higher volume of projects without compromising on quality.
Acquirer profile:
Storskogen is a Swedish-based international group of businesses across trade, industry and services, listed on NASDAQ Stockholm and which was making its second acquisition with us.
Marketing strategy:
We wanted to draw attention to what was unique about the business, its significant pipeline and the considerable efforts that had been taken to support its ongoing expansion to assure buyers the company would continue its upward trajectory throughout the transition and beyond.
Negotiation strategy:
This is a good example of an eventual acquirer coming from a slightly unexpected area. Our initial focus had been on finding a trade buyer for the business and while we engaged with parties operating in the same sector as ACE, the best partner for the business ended up being Storskorgen. By keeping an open mind, exploring all options and maintaining regular dialogue with acquisitive parties to understand their criteria, we are able to provide options for clients and ensure we are finding the best home for their business. During the process, we generated a lot of interest in the group and met with several potential acquirers, but Storskogen was the best strategic fit and shared the long-term vision of the business. The transaction allowed AC Electrical to become part of a larger organisation and build on the fantastic platform the owner and his team have built over the years.
Vendor's comments:
“Storskogen is a great cultural and business fit for AC Electrical and we have shared ambitions for the future. I am really looking forward to the next phase of growth and continuing to build the business and relationships with the Storskogen team.”
Acquirer's comments:
“We are delighted to add AC Electrical to our growing portfolio of niche companies with leading market positions. We believe this is a great platform on which to grow our presence in the mechanical, electrical and plumbing space in the UK.”