RHK’s Managing Partner David Hall has assisted the management team of North East based strategy consultancy, Wood Holmes, in a successful MBO as part of the company's ambitious plans for growth.
The MBO of Wood Holmes Group Ltd was led by current company directors Stuart Smith, Leigh Sear, Aiden Regan, and Craig Rose, and represents another milestone for a business that has been transformed over recent years into a recognised innovative player in its sphere of operation.
Following the recent completion of the MBO the company has already established a new Singaporean venture, and looks forward to developing further business leads in the buoyant Asian market as well as continuing to grow offices in Manchester and London.
Wood Holmes' directors were supported by a team of specialist advisers: RHK were led by Managing Partner, David Hall and Accounts Director, Paul Ramsey who undertook detailed financial due diligence, whilst preparing financial forecasts for three years to ensure financial stability. The information and comfort obtained from the due diligence enabled the Heads of Agreement to be signed very quickly.
David’s vast experience of assisting clients through the acquisition process enabled him to bring a ‘no-nonsense, commonsense’ approach to getting the job completed within the tight timescales set, without compromising on the quality of work performed.
RHK also assisted the team in the appointment of Nick James at Hay & Kilner to undertake the legal work required for the Sale Purchase Agreement and associated documentation.
Exiting Wood Holmes Chairman, Alan Holmes, said:
"For some time now, we've been thinking about, and planning for, succession at Wood Holmes.
"Over recent years we've built up an excellent team of people who have enabled us to transform the business into a serious player in the strategy consultancy arena, and they have contributed massively to our success.
"I'm delighted to have agreed an MBO for the entire business that will see the company I began 20 years ago grow and move forward."
Chief Operating Officer, Leigh Sear, said:
"We'd like to thank Alan for his leadership and openness to change as we've looked to move the business forward. Wood Holmes has changed an incredible amount, from a market research company established in Gosforth twenty years ago, to an international strategy business with blue chip clients and offices in London, Manchester and Singapore.
"We're a local firm with global expansion in mind, and we're determined to show the rest of the world that the North East can deliver credible, quality, innovative business services."
Chief Executive, Stuart Smith, said:
"This is an exciting time for Wood Holmes - a time for change and an opportunity to develop into the kind of 21st Century business that helps clients face the all too real challenges of the modern global economy.
"We've been building a strong reputation for innovation and quality in our range of strategic services across the UK, in Europe and in South East Asia, and with the completion of this buy out, we're in a stronger position than ever to compete in the global market."
Members: DJ Thompson FCA DC Hall FCA GJ Miller FCA BC Thomas P Storey FCCA. RHK Business Advisers LLP is registered in England as a Limited Liability Partnership No. OC308294. Registered to carry on audit work by the Institute of Chartered Accountants in England and Wales.
