Panoramic backs management buy-in of PCS

Financial details of the deal remain undisclosed, though Panoramic drew capital from its second fund to support the transaction. The vehicle typically writes equity cheques of £1-5m.

The transaction involves an element of additional working capital, which is intended to support a recruitment drive and the company's expansion into new market segments.

The deal sees the GP supporting incoming managing director Danny Burns and non-executive director Nick Owen.

Company
Founded in 1997 and headquartered in Buxton, PCS is an industrial electrical engineering contractor. Its services include the design, maintenance, installation, supply, testing and inspection of equipment and systems, as well as the manufacturing of control panels. It primarily serves clients in the aggregate, asphalt, cement and concrete markets, in addition to the food and drinks industry.

People
Panoramic Growth Equity - Malcolm Kpedekpo (partner); Jake Wilson (investment manager).
Process Control Services - Danny Burns (managing director).

Advisers
Equity - Brabners Corporate Finance, Paula McGrath, John Connolly (corporate finance); Addleshaw Goddard, David Kirchin, Kirsty Girvan (legal); Consilium Chartered Accountants, David Holt, Julia Lasobras (financial due diligence); TL Dallas, Bernard Dunn, Douglas Lapsley (insurance due diligence).
Management - Brabners Legal, Daniel Hayhurst (legal).

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• Topics
• Buyouts
• UK / Ireland
• Industrials
• United Kingdom
• Addleshaw Goddard
• Consilium