The corporate finance team at PM+M has acted for the shareholders of Burnley-based RAM Services Limited on the sale of the business to the firm’s senior management team. The value of the deal has not been disclosed.
RAM Services Limited was established in 1980 and is a specialist structural repair and refurbishment contractor. It provides a range of services to the power and water supply and distribution sector, the wider civil engineering industry, and to a range of public sector organisations. It operates primarily in the North West, but also works all over the UK and sometimes abroad.
The deal will see the shareholders retire and exit the business with Paul Howarth, contracts director, and James Best, business development manager, taking full control.
Majority shareholder, Richard Kayser said:
“Selling a business that you have worked so hard to build up is always going to be a big decision. The last 40-plus years has been a fantastic journey, and we are happy to know that RAM Services is in great hands under Paul and James’ ownership.”
PM+M’s corporate finance team supported the sellers with all financial, deal related and tax advice. Legal advice was provided by Farleys.
Jim Akrill – corporate finance partner at PM+M – said:
“We are pleased to have advised the shareholders of RAM on the sale of their business to the management team during such a challenging time. RAM is a robust business and is well positioned for future growth. We wish the new owners every success.”