Maven backs £11m EE Smith MBO

The deal has enabled EES's management team to acquire the business, having been owned by the Richardson family since 1947.

The transaction was funded by Maven Investor Partners, which is backed by institutional investors and high-net-worth individuals. The GP did not use capital from its VCT funds following recent rule changes, which have severely restricted how these vehicles can invest.

The fresh capital will be used to expand the company further in the UK as well as in Germany and the Middle East.

Company
Founded in 1897, EES is a specialist interior contractor and joinery manufacturer operating in the commercial and residential markets. It focuses on fitting out residential and commercial properties including government buildings, embassies, bars, clubs, hotels, restaurants, offices and homes. ESS also owns Clarendon Fabrications, a manufacturer of worktops and desks used in the commercial sector, as well as for kitchens and bathrooms.

The company employs 150 people and expects to generate turnover of £35m this year. 

People
Maven Capital Partners – Andrew Ferguson (partner).
EE Smith Contracts – Neil Bottrill (managing director).

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