Beever and Struthers advise HFL Building Solutions (HFL) to keep it in the family

Date: 27/02/2024
Author: Beever and Struthers
Company: Beever and Struthers

Accountants and business advisors Beever and Struthers advised the management team on the successful management buyout (MBO) of Manchester-based HFL Buildings Solutions Group (HFL), by founder and managing director Dave Saxton and other family members for an undisclosed sum.

Founded in 2005, HFL has grown into one of the UK’s foremost independent building maintenance companies, offering 24/7 maintenance on over 450 sites from the Scottish borders in the North to the M4 corridor in the South.   

HFL offers a wide range of mobile maintenance services, integrated facilities services and building environment services to the education, entertainment, and leisure, commercial, retail and industrial and distribution industries. 

HFL is experienced in the planned maintenance and upkeep of commercial, educational, retail, leisure facilities, theatres, and industrial buildings throughout the UK.  

Dave Saxton, managing director of HFL, said: “I am delighted that my wife Jane and I have become the sole owners of HFL Building Solutions Group.

“I started the business from nothing back in 2005, with financial investment support from my business partners and fellow shareholders. 

“This is now another significant milestone in the company’s history and provides me with the ability to develop and grow the business even further.”

Over the years the company has gone from strength to strength, growing to a company with a turnover close to £18 million, with 400+ live PPM contracts across the UK, employing close to 150 people.

He added: “This growth is all down to the amazing team we have been fortunate enough to build around me.  My commitment and passion for HFL has not changed, and it is my intention to keep the company as a family run business indefinitely for which everyone will play an integral part.  

“My immediate family will become fellow directors and shareholders, and are as passionate about the future of HFL as I am.”

Dave will continue as group managing director supported by Mark Roberts (group finance director) with James Kissane (business development director), Garry Vaughan (operations director) and other family members as new shareholders and directors to the board.

Jenny Taylor of HSBC UK provided a funding package for the transaction.

Beever and Struthers provided corporate finance, debt advisory and tax advice to the MBO team, with corporate finance director Dean Curtis leading the transaction, supported by manager Patrick Wilson, corporate partner John Jones and tax partner Ann Bibby. 

Legal advice was provided by Richard Riley, corporate and commercial partner at Slater Heelis and supported by Hannah Cullinane

Dean Curtis (pictured) said: "We were so pleased to advise the management team on this significant transaction, and particularly for the business to retain its strong family ethos. We wish them all the very best for the future and will watch the next stage of the company’s growth with pride."