Falcon Tower Cranes, the largest independent tower crane supplier in the country has announced the completion of a management buyout (MBO). PEM Corporate Finance acted as lead adviser on the buyout.
Falcon Tower Cranes, the largest independent tower crane supplier in the country is pleased to announce the completion of a management buyout (MBO) which installs a new generation of shareholders to drive the growth of Falcon and solidify its position as the UK’s premier tower crane business.
Established in 1974 and headquartered in Shipdham, Norfolk, Falcon has evolved from a regional tower crane supplier to an international brand, selling and renting tower cranes all over the world. The company provides specialised lifting solutions to suit all manner of construction projects, supported by its workforce of over 450 personnel and running a fleet of over 400 tower cranes.
The MBO provides a new shareholding structure that reflects the operational contribution of the current business and facilitates a full exit for the founders Doug Genge and Barbara Brown from their shareholding.
Managing Director, Andrew Brown said,
“This deal marks an important milestone for our business, and I am thrilled to have led the management team towards this exciting new phase. We are delighted that the founders, Doug Genge and Barbara Brown will remain on the board to pass on the benefit of their experience to the new management team. Since it was established, the business has gone from strength to strength and we look forward to driving it towards the next chapter of its impressive journey. It has been a great pleasure working with PEM and their corporate finance team. We have known the company for over 15 years, working alongside them on the previous MBO and more recently as our company auditors. The level of service has been outstanding, especially during Covid times.”
The entire MBO process was project managed by PEM Corporate Finance. Philip Olagunju, Director said,
“Falcon Cranes is a long-standing client of PEMCF, with our colleague Lake Falconer advising on their first MBO in 2006. Over the last 15 years, we have witnessed first-hand the growth of both the business and its management team. I’m delighted that we’ve once again advised on the sale of Falcon Cranes to an excellent MBO team, this time lead by Andy, whilst facilitating a full exit for Doug and Barbara. All of us at PEM Corporate Finance wish everyone the very best for the future.”
Legal advice to the management team was provided by Oliver Pritchard and Brigitta Naunton from Howes Percival LLP.
For more information, please contact Shaun Nichols, Marketing Co-ordinator at PEM Corporate Finance, on 01223 949 757 or shaun@pemcf.com