Leading law firm, DMH Stallard, and Top 25 accountancy firm, Menzies LLP
, have advised on the sale of facilities management provider, Anabas, to global facilities management business, Armonia, part of the Sofinord Group.
Anabas, which was established by Mark Cooper in 2004, delivers a range of facilities management services to high-quality corporate office spaces in the UK, for organisations including Mitchells & Butlers plc and Ogilvy.
The deal will help to accelerate Anabas’ growth trajectory and strengthen the business’ financial position, while creating opportunities for career progression and development. The move will also enable the business to broaden its service offering.
Established in 1974, Armonia is a French facilities management provider with around 16,000 employees across France, Spain, the Middle East and North Africa. It provides a range of facilities management services to organisations including Société Générale, Renault Digital, Hermes and Estée Lauder.
Managing director, Alistair Craig, is retaining a shareholding and will continue his role with Anabas, together with the rest of the senior management team. The Anabas brand will also remain.
Led by Gatwick-based corporate partner, Danos Athanasi, DMH Stallard (DMHS) advised the selling shareholders of Anabas on the legal aspects of the transaction.
Danos Athanasi said: “DMHS has a long-standing relationship with Mark and Alistair, and we were delighted to assist them on this deal in a tight timescale. The company has an exciting future ahead, and I have every confidence that it will continue to develop and expand with the ongoing leadership of Alistair, his team and the Sofinord Group.”
Led by director, Kevin Paget, the corporate finance team at Menzies LLP advised Anabas on the deal structure negotiations, net working capital/free cash position, due diligence process and the commercial aspects of the legal documentation.
Kevin Paget, corporate finance director at Menzies LLP, said: “This deal will help to accelerate the growth of Anabas, bringing a number of benefits to both the business and its customers. The Menzies team were delighted to advise the shareholders on this transaction, and we look forward to observing the business strengthen its foothold within the facilities management market.
Alistair Craig, managing director of Anabas, said: “Kevin and his team at Menzies guided us expertly through the maze of corporate finance and helped to secure a strong sale for Anabas. They dealt calmly with some challenging moments and we very much appreciate their advice and support along the journey.”