Majority sale of shares for Orbital Fabrications
PEM Corporate Finance were appointed by Orbital Fabrications to provide M&A advice on the sale of 80% of its shares.
We acted as advisors to the majority shareholders, Dave and Grace Honeyben, on a restructuring transaction that will ensure continuity and management succession.
PEM Corporate Finance acted as advisers to the majority shareholders, Dave and Grace Honeyben, on a restructuring transaction that will ensure continuity and management succession. Dave and Grace have significantly reduced their holdings in the company and all 24 staff at the business have acquired an equity stake in First Copy.
First Copy is one of the top Xerox franchises in the UK and operates in the East Anglia region. They sell the whole range of Xerox equipment from colour photocopiers for the office to large scale digital printing equipment for the printing industry – some machines retail for over £350,000 each and are leading a massive change in the way printing services are delivered.
One of the motivations for this deal was to pass ownership, responsibility and rewards down to all staff at First Copy. A unique ownership structure was put in place to allow all staff to acquire shares in the business – an action which has dramatically improved the motivation and dedication of the First Copy team.
Bank finance was received from the Co-Operative Bank in Cambridge alongside equity finance from the staff and management at First Copy.