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 lead adviser to COEL on their management buyout (MBO).
The company has its origins as a drylining subcontractor, founded by Neil Cook as Cambridge Partitions in 1986. There was a pivot to office interiors so Cambridge Office Environments Limited (COEL) was born and has over time added other complimentary service lines, such as a heating and plumbing, office furniture, commercial relocation, storage services, and property maintenance.
The deal was structured to reflect the divergent aspirations across the stakeholders. The transaction had a property component, necessitating skillful tax structuring of the final deal.
As a well-known entity locally, it was important to structure the transaction to enable a smooth transition post-MBO, with seamless operational continuity.
The transaction saw a new company formed to acquire COEL, allowing the Vendors to step away from the day-to-day operations of the business, and for the equity structure to reflect the new management team.
Legal advice was provided by James Allen and David Hollier of Birketts and Adam Bradley of Taylor Vinters.