Wiltshire team works on MBO

Wednesday, 13th February 2013

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The corporate finance team at Wiltshire-based Monahans has worked on the management buyout of a garden plant rental company.

The team has assisted three senior managers of London-based Indoor Garden Design to acquire the business from its previous owner and founder Ed Wolff.

Senior management team Pippa Robinson, David Grace and Ian Drummond were approached by Wolff when he decided to retire to see if they wanted to acquire the business.

Peter Lugg of Monahans’ corporate finance team valued the company, reviewed the business plan to assist the team with raising the finance as well as helping to negotiate the deal arrangements and undertaking financial and tax due diligence.

Lugg said: “The MBO team have a clear idea of how they want to grow the business in the future and we were able to work to ensure the best possible outcome for them.

“I am looking forward to seeing the business expand over the next few years as they look to new areas and opportunities.”

Swindon lawyers Withy King advised the team on the legal aspects of the acquisition.

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