The Business Exchange Swindon & Wiltshire Edition 40: Dec/Jan 2018/19 | Page 13

Watersheds celebrate 2 successful company sales
Watersheds, the Swindon corporate finance specialist has
recently led 2 successful business sales.
FIRST CHOICE RECRUITMENT SOLD TO MCGINLEY GROUP
“Selling the company
you started and have
built up for almost
20 years is an
emotional journey.”
For more info:
www.watersheds.ltd.uk
01793 719788
Swindon based corporate finance
advisor, Watersheds, has sold the
specialist construction industry
recruitment company, First Choice
Recruitment to McGinley CEP
Limited.
London-based First Choice was
founded by Louise Smith in 1999
with a small loan from the Prince’s
Trust. From the very start, Louise
wanted to build a business that
not only delivered outstanding and
reliable service to its clients, but also
looked after its workers.
McGinley CEP is a specialist
construction recruitment
consultancy offering a range of
Construction, Engineering &
Property jobs. Also based in London,
it has become the construction
recruitment company of choice,
whilst simultaneously operating
across the engineering & property
sectors. McGinley CEP is part of
the McGinley Group which provides
recruitment and project based
solutions across a range of specialist
market sectors. Its businesses are
recognised as some of the fastest
growing in the UK (Virgin Fast Track
100 Company) and ‘Best Company to
Work For’ by the Sunday Times.
When Louise decided it was time
to sell, she was keen to ensure the
business passed into the ownership
of a company who would value
her staff and protect the client
relationships that she had spent so
long building up. She approached
Watersheds, who set about finding
the right partner.
Louise said “Watersheds
understood straight away what was
important to me about the sale, and
very quickly introduced McGinley
Group who were the perfect fit in
terms of values and culture. Having
never been through a transaction
like this before, the time they took
to guide me through the process,
explaining everything in detail, was
invaluable”.
Sue Green of Watersheds
commented: “Selling the company
you started and have built up for
almost the last 20 years is an
emotional journey. I’m delighted we
were able to find a buyer who Louise
felt was right for the future success
and growth of the business.”
Legal advice was provided by
Simon Hore and John Davies of
Thrings in Swindon.
TROIKA SYSTEMS SOLD TO FRESH EQUITY
Watersheds has led the successful
sale of Troika Systems Limited, the
award winning market leader in
the manufacture and distribution of
innovative 2D and 3D microscopes to
Fresh Equity Limited.
Troika was established by Philip
Hall in 1996 who had significant
knowledge and experience in the
printing industry. He identified
there were inefficiencies within
the industry due to lack of quality
control and standards on the
capital equipment, costing printing
companies significant amounts
through wasted print runs. Philip
developed innovative products to
address these issues.
Philip Hall of Troika, said “I am
delighted to have worked with
Watersheds. I believe the business
can be taken to the next level with
the current management team
under guidance and support of a
more experienced owner. Therefore
it was important to me Troika was
sold to a buyer who saw the potential
and more importantly would look
after the loyal staff who have
supported me all these years.
“The process of selling the
business was overwhelming but
Watersheds were there to advise
and support me by co-ordinating all
parties and managed the transaction
throughout.”
The acquisition allows the
business to grow with the current
experienced management
team, guided by Midlands based
investment company Fresh Equity
Limited.
Wendy Lam, Partner at
Watersheds, said “Troika
manufactures a very unique product
therefore it was important to find a
buyer who could see the potential
application across other sectors and
build upon that opportunity.
“I am pleased to have been able
to deliver Philip’s expectations. We
identified Fresh Equity as a potential
buyer and made a direct approach.
They were able to deliver a growth
plan which excited the existing
management team and allow for the
business to remain at Highworth,
ensuring all the staff continued with
the business on its exciting new
journey ahead.”
Legal advice was provided by
Clark Holt with accounting and tax
support provided by Morris Owen.
THE BUSINESS EXCHANGE 2018
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