Specialist Height Maintenance and Safety
Our client is a specialist height maintenance and safety business. The business has been operating for over 25 years.
They are one of the most experienced companies in its industry, with a strong safety and reliability record. The owners had expanded the business over the years but were at the stage where they were looking to improve their work life balance. A younger person could build on their legacy, grow the business further and use technology to gain further efficiencies.
Platform 1 was brought in to find an equity partner who had complementary skills with the remaining owners and could work in the business. This person needed the skills to grow the business and was likely to have some construction related experience.
Through a competitive process Platform 1 found a number of prospective Business Partners with related experience, capability and enough capital to buy into the business. Three people made it to the shortlist to be presented to the owners, and after due diligence, all three wanted the business. An experienced person was selected and has now become a shareholder as the first part of a full transition. The owners have already started stepping back their day to day involvement while continuing to transfer their experience and knowledge to the incoming person. A Transition Planning Board has been set up to run the transition.