- Preston firm completes buyout led by Managing Director Stuart Brakewell
- Deal sees Jonathan Brakewell exit the business
- Royal Bank funded the deal
Our banking and invoice finance teams have provided an undisclosed funding facility to support the management buyout of Preston firm Central Power Services.
The deal sees Stuart Brakewell take full ownership of the business after buying out his brother Jonathan Brakewell. Stuart has worked for the business since its inception in 1986, when it was established by his father Keith Brakewell and Derek Bell.
Based in Preston, Central Power Services is today one of the UK's leading independent emergency power specialists. The business installs and maintains emergency power systems for businesses and service providers across the UK and Europe. It also has offices in Cannock and Leeds.
John Copping from our Corporate Transactions team worked alongside Liam Molyneux in the Preston Corporate team and Kevin Burrows from invoice finance to structure a funding deal to support the buyout. Advisers involved in the transaction include Neil Robinson from Mazars who provided financial due diligence. Legal adviser to Stuart Brakewell was Gill Gardner from Brabners, and to the bank Robert Dobson from Napthens. Jenny McCabe of CLB Coopers also advised Stuart Brakewell.
Stuart Brakewell Managing Director at Central Power Services:
"I am delighted to take full control of the business and am looking forward to expanding and building on the firm's established track record of success. It will be business as usual for our customers, suppliers and staff.
"I am grateful for the support and professionalism RBS has displayed throughout the deal process, which has allowed the completion of this deal, and the support from all the teams involved."
Kevin Burrows, Commercial Business Development Manager (invoice finance):
"Central Power Services is very well established and, having worked for the business since inception, Stuart is well placed to drive its future success. He's an experienced and highly regarded local businessman who works alongside Lancaster University as an Entrepreneur in Residence, offering support to students in the Business Management School. I'm delighted to have helped Stuart complete this management buyout."
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