We’re pleased to have supported Buston & Maughan Ltd (B&M), a leading provider of social housing regeneration services, on securing minority private equity investment from Foresight Group.
Based in Crook, County Durham, B&M specialises in heating installations, kitchen and bathroom refurbishments, servicing and void works for social housing providers across the North East.
Founded in 2005 by Mick Buston and Mick Maughan, the business has grown to employ over 90 staff and delivers thousands of projects annually, serving more than 11,500 properties in its latest financial year.
Our Corporate Finance team, led by Partner Abu Ali and supported by Associate Director Mo Miah and Executive James Cockburn, was approached by B&M to identify the best options to raise funds to support its ongoing growth.
We worked closely with B&M’s shareholders to shape a process that would introduce the right growth partner. In doing so, we identified and introduced Foresight – a leading investment manager in real assets and capital for growth – as the investor that would provide the best strategic fit.
We ultimately structured a minority buyout deal and project managed the transaction through to completion, in a deal that will enable the B&M shareholders to realise the immediate value of the business while retaining majority ownership.
Foresight’s backing will provide a platform to accelerate organic growth and pursue strategic acquisitions in a sector expected to benefit from increased government spending. Beyond capital, the business will also play an active role in governance, introducing a chairperson and strengthening the leadership team.
