OWNERSHIP REMAINS IN LOCAL HANDS AFTER MJ STEVENS BUY-OUT
MJ Stevens Limited is the largest provider of dry-lining, carpentry, painting and tiling services to the house-building sector in the Southwest.
Mike Stevens founded the business on this day 40 years ago. Over this period Mike and his team have built a quality reputation in the market and long-standing customer relationships, including several large national housing developers.
This transaction will ensure ownership remains in local hands and provide continuity for MJ Stevens’ customers, employees and suppliers. Louis Greenaway, who has been with the business for seven years and will become Managing Director, led the buy-out. Mike Stevens will remain with the business as Chairman going forward.
“We are keen to build on the solid foundation laid over recent years and are excited about our future growth plans of the business. It is very much business as usual for MJ Stevens and we will continue focusing on providing a quality service for our customers.” said Louis Greenaway.
Isca Ventures acted as the lead corporate finance advisors on the transaction, with funding provided by NatWest Structured Finance and legal support from Ashfords and Michelmores.
“We were delighted to put this transaction together. MJ Stevens is a good quality local business with a strong management team, with all the ingredients in place to continue its recent growth record.” added Mark Champion, Partner, Isca Ventures.