Beaufort gets insight into future with funding for management buy-out from Finance Wales

A loan from Finance Wales and funding from Bibby Financial Services has helped finance a management buy-out (MBO) at Beaufort.

Finance Wales’ loan has enabled long-standing directors Fiona McAllister and Chris Timmins to buy Beaufort Research (Beaufort), the Cardiff-based agency the pair have been running since company founder, Peter Stolle retired in 2007.

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Managing Director and new co-owner Fiona McAllister sees the management buy-out as the beginning of a new chapter for the business: “We’ve built up an excellent reputation over the last thirty years and have many loyal and satisfied customers who value the knowledge and expertise of the Beaufort team.  Over two thirds of our customers have been with us for three years or more and we have a 99 percent customer satisfaction rate.

“We have a sixteen-strong team at our Cardiff headquarters as well as hundreds of field staff based throughout the UK.  While Wales is a key market for us and we can offer a seamless bilingual service, we also plan to expand our client base in the rest of the UK.”

The management team were advised by Richard Coppock of RCA Corporate Finance and Nigel Greenaway from Greenaway Scott.  Richard Coppock commented:  “It is important to the future of the Welsh economy that companies are retained and headquartered in Wales. This management buyout is an good illustration of how a combination of a quality management team and innovative funders can achieve this objective.”

Deputy Fund Manager Beth Cousins and succession specialist Chris Griffiths worked with Fiona and Chris to structure the loan.  Commenting on the service provided by Finance Wales, Chris Timmins said: “Beth and Chris’s knowledge and expertise helped us to structure a loan to complete the buyout which puts us in a strong position to achieve our plans to grow the business. We’re looking forward to taking advantage of Finance Wales’ on-going support and advice as we expand.”

Commenting on Finance Wales’ investment, Beth Cousins added: “Beaufort Research is a respected Welsh research company with a loyal workforce, strong client base and an impressive track record established over many years.  It’s an excellent example of a successful, established business with all the right ingredients to flourish under new ownership.”

 

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