Corporate Finance Deal - Acorn Engineering Group

Top advisory firm Bishop Fleming has advised shareholders on the sale of mechanical and electrical maintenance provider, Acorn Engineering Group.

The Berkshire based provider, has been acquired by Cambridge Maintenance Services.

The deal marks its first acquisition since an MBO in 2020, backed by Rockpool Investments LLP and will provide a further boost to both companies’ growth plans.

Bishop Fleming provides audit, accounting, tax and business consultancy in the UK, and helped to deliver the transaction for the shareholders, enabling the company to continue its ambitious plans to grow.

Acorn Engineering Group Chairman, Graham Errington said: “I am proud of what we have built at Acorn and I am really pleased to have achieved this deal. I want to thank the team at Bishop Fleming for the dedication and professionalism they have shown. They have expertly guided us throughout the process and delivered a fantastic result for the shareholders and the company.”

Founded in 1984, Acorn Engineering is a highly respected facilities management business with over 120 staff operating in the south of England, with Cambridge Maintenance Services boasts over 35 years’ experience in the sector.

Bishop Fleming Corporate Finance Partner, Charles Davey, said: “I am delighted to have delivered this transaction for the shareholders. For more than 35 years they have built a fantastic business with an excellent reputation in its sector. The company has ambitious plans to grow and the combined experience of Cambridge and Rockpool makes them the ideal partner to take the business forward into the next phase of its development.”

Jason Milkins and Laura Guest at Roxburgh Milkins provided legal advice to the shareholders throughout the transaction.

Bishop Fleming was crowned as ‘Business of the Year’ at the British Chamber Awards in 2019 and is currently ranked in the Top 30 in the Accountancy Age league table.