Greswolde Construction

Management Buy In

Watersheds has strengthened the senior team of Midlands based Greswolde Construction Ltd, a construction company which specializes in the education, healthcare, housing, commercial and industrial sectors and has an annual turnover of around £20m.

 

In a deal led and executed by corporate finance specialists Watersheds, construction engineer Perry Stewart and chartered accountant Shaun Walsh have invested in the business, with ownership now shared between them and Malcolm Priest. Construction director Chris Harrison continues in that role.

Established in 1983, Greswolde Construction Limited specialises in new build, design and build, refurbishments and fit-outs ranging in value from £300,000 to £15 million.

William Senior of Watersheds, who led on the transaction for Greswolde, said: “It’s pretty amazing that we completed this deal for Malcolm during the lockdown, but it’s been a pleasure to work with someone who wanted to ensure the business is as resilient as possible and has a strong and sustainable future.

“Our approach was to find the individuals with the right skills, drive, experience and personality to give Malcolm and Greswolde the best possible outcome.

“We knew Malcolm required a blend of hard commercial skills and relevant industry experience, but equally needed people with similar values and aspirations, and who were passionate about the brand and the staff.

“When we found Perry Stewart and Shaun Walsh, we knew we had found two people who understood the true potential of the business, and who also had the industry-related experience to help achieve sustainable growth.”

Malcolm Priest observed: “I want to see the business thrive. The COVID-19 pandemic has been very challenging for the construction industry, however as we are waking up to face a new normal, I think it is the right time for me to step down and hand over some of my responsibilities to a highly experienced team, who can meet those challenges, so that Greswolde Construction has a strong and resilient future.”

“I have been talking to Watersheds off and on for several years about options. The fact that I am only now paying a success-based fee is pretty impressive.”

Watersheds only charges at the point of success, a policy that has been in place ever since the business was founded 20 years ago.

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For more information call us on Northampton 01604 660511 or Swindon 01793 719788 or Crawley 01293 804514