KBS Corporate Advises on Sale of Cook Brown Building Control
Cook Brown Building Control is a respected corporate approved inspector, who provides building inspection services. Since the company’s founding in 2013, Cook Brown Building Control has seen rapid growth with four offices based across the UK.
Having spent a number of years developing Cook Brown Building Control the current shareholders expressed the wish to realise the value of some their business to allow for growth. Both shareholders also stated the importance of remaining within the business post sale. From KBS Corporate’s initial meeting with Cook Brown Building Control, it was clear that the right buyer would appreciate the fresh and dynamic nature and potential of the business.
This knowledge helped to develop KBS Corporate’s research strategy, which enabled a focus on synergistic trade buyers and private equity buyers.
A number of interested parties were identified with the majority of interest coming from UK trade buyers. KBS Corporate was then able to use this interest to present two competing offers. The successful offer came from Hickton Consultants Ltd, trading as Hickton Group, who were backed by Chelverton Asset Management. KBS Corporate negotiated a final offer that exceeded the expectations of Cook Brown Building Control. In addition to this, the shareholders will receive a 25% shareholding of the new group.
Cook Brown Building Control was advised by KBS Corporate Associate Director, Joe Norris, who commented on the deal, “I’m very pleased with the deal that was achieved for our clients, they will benefit from reduced risk, taking some cash out of the business and the ability to work more regular hours. Hickton Group will benefit from Cook Brown’s large and growing client base, the expertise of their staff and by expanding their geographical reach to the South West of England.”
The shareholders will remain with the business post sale, taking on roles within the new group.