Baggaley & Jenkins 
Management Acquire Baggaley and Jenkins Limited
Well established East-Midlands specialist building contractors Baggaley and Jenkins Limited has been acquired in a multi-million pound management buy-out led by the existing Managing Director, Stuart Caddy.
Based in North Nottinghamshire, the company, which employs over 200 tradesmen and office-based staff, has long term relationships or framework agreements with many of the local authorities in the East Midlands area, and a number of large scale social landlords. In recent years valuable relationships have also been formed with a number of national contractors.
“Whilst I am delighted the deal has been concluded,” Stuart Caddy commented, “it’s very much a case of business as usual. It may seem like a cliché, but the quality of our people is the major factor in the considerable success of this business and I look forward to offering, in the future, the same combination of customer service and high quality work which has won us our current excellent reputation.”
The transaction was led by Ben Rookes of Cooper Parry Corporate Finance, who added: “The buy-out represents a valuable opportunity for Stuart and his team to build on the company’s strong reputation develop their customer base and expand into related markets. The business is now ideally positioned to take advantage of the excellent sectorial prospects. “
Prior to Stuart becoming MD in 1998, the business began life as a partnership of Les Jenkins and Ken Baggaley, though Ken later left the business. Following incorporation, with Les Jenkins at the helm, the company grew rapidly providing building services to local authorities, housing associations and the commercial sector around its core expertise of regeneration and refurbishment of social housing.
Les, commenting on the sale of his shares, said, “Having devoted thirty years to Baggaley and Jenkins, I know that I am now leaving it in safe hands and I look forward to reading about its continued success whilst concentrating on my other business interests.”
Stuart along with his co-directors and shareholders Keith Marshall and James Ward are anticipating the company’s turnover to exceed £30 million this year. Indeed, the management team is already involved in further planned growth and in the development of new sites, which will take the business beyond its current geographical boundaries.
Legal advice on the MBO was provided by Hugh Strickland, corporate partner with leading East Midlands law firm, Geldards LLP. He said, “We have worked with the business for a while now, and it has been wonderful watching it grow. Stuart, James and Keith are a very talented and experienced management team and we look forward to their continued success.” Hugh was assisted by corporate solicitor, Mike McMahon.
Guy Middleton, Associate Director at Royal Bank of Scotland, commented, “We are proud to have been Bankers to this successful business since it was established and we are delighted to have provided support for the transaction. We believe the Management team are well placed to further develop the business and we look forward to working with them to help them achieve their goals.” The bank was advised on the transaction by legal firm Flint Bishop.
The Vendor, Les Jenkins was advised by Phil Baigent of Freeth Cartwright LLP.
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