Press Release | Spencer West LLP advises on sale of Artic Building Services LtdPosted: 7 Aug 2023
Corporate Partner Simon Wilson has led a team of Spencer West lawyers advising Artic Building Services Ltd during its sale to Rockpool-backed technical services business, Mecsia Group.
As one of the fastest growing technical services businesses in the UK, Mecsia Group completed its acquisition of Artic Building Services in July 2023. With revenues exceeding £100m, Mecsia is continuing to pursue strategic acquisition opportunities.
Artic offers similar mechanical and electrical maintenance services, primarily to the healthcare, education and commercial property markets, with deep relationships across the NHS and several leading universities. Artic management, led by joint Managing Directors Colin Trowell and Paul Lucas, will continue in their existing roles as part of the Mecsia Group.
The acquisition was supported by additional equity funding from Rockpool and senior loan funding from incumbent lender, Virgin Money.
Drawing on Simon’s experience of working with the Artic group over a long period of time and the team’s knowledge of the facilities maintenance sector, the Spencer West team, including property partner Joanne Cummings and corporate solicitor Lauren McGarry, worked alongside Menzies LLP, led by director Kevin Paget and corporate finance executive James Kidd, to advise Artic Building Services at every stage of the sale process and deal structuring.
Colin Trowell, managing director of Artic Building Services, said:
“From day one, Simon’s Spencer West team and the Menzies corporate finance team, took the time and effort to really understand our core business operations, drivers, and desired aspirations. In particular, Simon has been a trusted adviser for a number of years and his advice has been invaluable to the Artic group.”
“Simon’s Spencer West team and the Menzies corporate finance team provided an excellent level of support and demonstrated real skill in breaking down the individual components of the deal and guiding us through the process from start to finish. They acted as an extension of our own Senior Management team, providing the additional resources needed to manage the deal process, which enabled us to stay focused on achieving our desired growth.”
Jon Coiley, CEO of Mecsia, said, “The acquisition of Artic brings considerable in-house engineering expertise and new customer relationships to Mecsia, further strengthening our credentials in both the healthcare and education sectors. Artic’s customer base will benefit from Mecsia’s national presence and broad portfolio of technical services. We are pleased to have completed Mecsia’s third strategic acquisition and extend a very warm welcome to our new colleagues at Artic”.
Rockpool and Mecsia were advised by Taylor Wessing LLP (legal) and PKF Corporate Finance (financial and tax due diligence). Virgin Money was advised by CMS Law (legal).
Coverage of the acqusition was featured in Business Leader - see the article here.
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