Catalyst leads £40m MBO
Birmingham-based Catalyst Corporate Finance has advised on the management buyout (MBO) of construction company Leadbitter Group. The company was bought for £40m from Heijmans NV.
Heijmans NV is a Netherlands-based engineering and construction company.
Catalyst advised the new management team alongside law firm Pinsent Masons.
The Leadbitter Group, which consists of both Leadbitter and Denne, has a turnover approaching £400m. The company is based in Oxfordshire and has an office in Coventry.
The buyout was led by the founder and current chief executive of Leadbitter Group, Bob Rendell. He entered a joint venture with Bouygues Construction, a subsidiary of the quoted French group Bouygues, to acquire Leadbitter.
Richard Sanders of Catalyst, who led the deal, said: “Whilst it has been a difficult time for many businesses in the construction sector, Leadbitter has demonstrated a great resilience, achieving continued growth across its business. We worked closely with the management team over a long period of time to implement a highly innovative deal that provides a sound platform for the future growth of the business.”
