PKF support helps air conditioning provider transition to employee ownership

Midlands-based firm ABI Facilities Engineering has become an Employee Ownership Trust (EOT), in a deal supported by the Transactions team at PRF Smith Cooper.

Founded in 1997, ABI Facilities Engineering Limited has become a leading regional provider of air conditioning and heat pump, warm air and water heating maintenance services, with commercial and industrial clients across the Midlands and further afield.

PKF Smith Cooper transactions team included Darren Hodson (Corporate Finance partner), Joe Anderson (Corporate Finance manager) and Natasha Care (Corporate Finance senior executive) as lead advisors, working with Natasha Scott (tax partner) and Michelle Bryan (senior tax manager) who provided tax structuring advice.

Tom Sinden (transaction and advisory services director) provided valuation work.

The transactions team at PKF Smith Cooper has advised on more than 100 deals over the last three years, supporting owner-managed and mid-market businesses across the Midlands with a range of succession, sale and shareholder transition options.

The EOT structure is designed to preserve ABI’s independence, protect the culture built by its owners and give employees a meaningful stake in the company’s continued success.

Other advisors on the transaction included Legal Clarity Limited, with Gary Davie (partner), Jane Jevon (director) and Christina Conlon (solicitor) providing buyside legal advice to the trustees of the EOT.

Darren Hodson said: “From the outset, it was clear that ABI’s owners wanted to protect the values of the business, recognise the contribution of their people and position the company for long-term success.

“An EOT structure matched those ambitions, supporting continuity for employees, customers and suppliers while giving ABI a strong platform for future growth.”

Mark Sheldon said: “PKF Smith Cooper were excellent throughout the process. They took the time to clearly talk us through all of the options available to us, from a trade sale and management buyout through to an Employee Ownership Trust.

“As we worked through the alternatives, it became clear that an EOT was the right route for ABI, protecting the values of the business, recognising the contribution of our people and giving us the best platform for the future.”

ABI’s existing leadership team will continue to lead the business.

Pictured: Darren Hodson (Corporate Finance Partner) and Natasha Scott (Tax Partner) at PKF Smith Cooper