Space Engineering Services
Foot Anstey advised continuing management of Space Engineering Services, a leading national supplier of refrigeration services and plant manufacture, on the sale of a minority equity interest to an affiliate of Hillphoenix, Inc.
Headquartered in Bristol, Space Engineering employs c.580 people across the UK, and has over 25 years’ experience in delivering Refrigeration, Mechanical and Electrical and HVAC services to the Food retail sector. The deal saw an affiliate of US-based Hillphoenix, Inc. acquire a minority investment.
Matt Stoate said “We were delighted to play our part in this deal involving a Bristol success story with a number of our professional peers in the Bristol corporate finance community as well as being able to demonstrate the specialist management advisory expertise of our private equity team."
Dale Nouch and Mark Woods, joint Managing Directors, and Charles Murphy, Finance Director, of Space Engineering Services, commented “Foot Anstey understood exactly how a continuing management team needs to be appropriately included in a deal process, and incentivised by it. Matt and team guided us in a calm and considered manner, with sensitivity to the wider transaction, through those areas where our interests may have diverged from those of the majority shareholders. We valued their unconflicted, specialist advice immensely."