Benchmark International has advised on the transaction between roofing, cladding and façade company, Elite Facades, and private equity company, Acuity Management.
Elite Facades specialises in all aspects of flat roofing, built-up composite and twin skin cladding systems for clients including BAM and Bouygues.
The company is to operate as part of the larger Elite Facades Holdings, a newly-formed subsidiary of Gibraltar-headquartered Acuity, an alternative private equity fund that acquires equity ownership in SMEs via intelligent buyouts, where the acquired entity retains its independence.
Under the terms of the deal, Patrick Feeney will remain as a director and shareholder of Elite Facades Holdings.
He said: "Elite Facades is very pleased to be part of the larger Elite Facades Holdings. The transaction will provide the business with greater stability and further access to additional investment, while helping to support the pace of rapid growth we are pursuing."
Benchmark International would like to thank all parties involved and we wish them all the very best of luck for the future.
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Benchmark International’s global offices provide business owners in the middle market and lower middle market with creative, value-maximising solutions for growing and exiting their businesses. To date, Benchmark International has handled engagements in excess of $5B across 30 industries worldwide. With decades of global M&A experience, Benchmark International’s deal teams, working from 13 offices across the world, have assisted hundreds of owners with achieving their personal objectives and ensuring the continued growth of their businesses.