Engineering and business services firm McCann and Partners has been acquired in a management buyout. A team of five directors in the business, which has its head offices in Cardiff as well as a presence in Swansea and Bristol, have taken on ownership in a deal part funded with an equity and debt package from the Development Bank of Wales.
Founded in 1955, McCann and Partners specialises in mechanical, electrical and public health (MEP) engineering, providing a full range of building services. A team of over 60 engineers and staff support clients in the Ƶ’s healthcare, education, transport and commercial and residential property sectors.
The management buy-out team consists of directors Rhys Silcox, Chris Morgan, Anthony Collins, Daniel Carter, and Liam Poole.
Ms Morgan said: “As a team, most of us have been with McCanns for over 15 years and have helped to grow the business into one of the largest independent building services consultancies in Wales and the West. This management buy-out presents us with an opportunity to build on our success to date, and further strengthen our reputation for providing building services designs for outstanding buildings.
“Looking to the future, we will continue to focus on minimising the environmental impact of our projects through the delivery of net zero carbon design, and we look forward to delivering many more projects with our fantastic team, clients and collaborators. It’s an exciting time for us all and the wider team.”
Kabitah Begum, senior portfolio executive with the development bank, said: “We have over 20 years of experience structuring finance for business succession and offer a range of funding for management teams that want to own and run their businesses.
“McCann and Partners has a strong track-record of client delivery and growth. We have been impressed by the talented team, along with their deep understanding of the sector and ambition to further develop their range of award-winning services. We are pleased to be able to support their growth plans and look forward to the journey ahead.”
The development bank said it could not disclose the value of its equity and debt support.
