Newcastle-based Ryecroft Glenton Corporate Finance has advised on the Management Buy Out (MBO) of national engineering and technical recruitment consultancy, Project EMC, which will trigger a three-year growth programme.
Established in 2007, Project EMC serves clients operating in key industry sectors including rail and infrastructure, energy, construction and telecoms.
As a result of the MBO where majority shareholder and Managing Director, Colin Edge has acquired co-founder John White’s shares in the business, Project EMC will target new complimentary sectors, expand its geographical reach, as well as increase its own workforce.
Operating from its head office in Covent Garden, London, Project EMC utilises a pool of experienced contractors to support its clients’ operations.
Project EMC and its managing director were advised on the transaction by Carl Swansbury, partner at Ryecroft Glenton Corporate Finance. He was supported by his colleague Charlie Burton who provided tax advice to the business. Legal advice was provided by Field, Seymour, Parkes LLP.
Colin Edge, Managing Director of Project EMC, said: “We have experienced a successful first decade in business, which has positioned Project EMC as a trusted and effective service company in the industry sectors in which we operate.
“I am very proud of what John and I have achieved, with the support of our team, which will provide a platform for future growth. We are now in a position to implement a new three-year business plan, which will enable companies in complementary sectors and more areas of the UK to access our established and proven consultancy services.”
Carl Swansbury, partner at Ryecroft Glenton Corporate Finance, said: “I am delighted to have advised Project EMC and Colin on the purchase of the shares of his co-founder. I wish Colin and the business well for the future and look forward to working alongside Project EMC as it delivers its three-year growth strategy.”