Smith and Williamson has advised specialist mechanical and electrical (M&E) services provider Metropolitan Electrical Services on its transfer of ownership to an Employee Ownership Trust (EOT).
Metropolitan Electrical Services is a “leading” independent provider of M&E services specialising in critical environments.
It offers a suite of services including mechanical, electrical, building management, TEGG testing, fabric and joinery services to its portfolio of blue-chip clients.
As part of the deal, the shareholders have transferred 100% of the business to an EOT, securing the “long-term future of the business and enabling the staff to benefit in the future growth of the company”.
Metropolitan’s management team will remain unchanged, with Robert Warner continuing as managing director and Maurice Exall as chairman.
Smith and Williamson worked with the board of Metropolitan Electrical Services to deliver a successful transfer to employee ownership.
Brian Livingston, head of M&A for Smith and Williamson, led the transaction supported by Stuart Goodman and Jankee Patel in corporate finance and John Manis and Oliver Dewdney in business tax.
Livingston said: “This is another deal the Smith and Williamson team has completed within construction which reinforces our position as one of the leading advisers in this sector.
“We hope that under employee ownership, the company will continue to achieve strong growth under the stewardship of the current management team.”
He added: “Smith and Williamson has a strong track record of supporting owner-managed business transition ownership and we are thrilled to have supported Robert and Maurice in achieving a successful outcome for all involved”.