{"id":51883,"date":"2019-08-02T21:09:33","date_gmt":"2019-08-02T20:09:33","guid":{"rendered":"https:\/\/thenantwichnews.co.uk\/directory\/?p=51883"},"modified":"2019-08-02T21:09:33","modified_gmt":"2019-08-02T20:09:33","slug":"nantwich-firm-power-installations-bought-out-in-six-figure-deal","status":"publish","type":"post","link":"https:\/\/thenantwichnews.co.uk\/directory\/nantwich-firm-power-installations-bought-out-in-six-figure-deal\/","title":{"rendered":"Nantwich firm Power Installations bought out in six-figure deal"},"content":{"rendered":"<p>Nantwich firm Power Installations has been bought out in a six-figure deal.<\/p>\n<p>The Cheshire contracting firm underwent a management buy-out, backed by a loan from Mercia.<\/p>\n<p>Power Installations, which employs a team of 11 in Nantwich, provides specialist cable jointing services to electricity distribution networks.<\/p>\n<p>The deal gives control of the business to the long-standing management team and provides an exit for one of the founders.<\/p>\n<p>Power Installations serves clients ranging from house builders to railway authorities and energy companies such as Scottish Power and Electricity North West.<\/p>\n<p>The business carries out installations, upgrades and repairs to electrical power cabling and substations and is accredited to work with cabling carrying up to 33,000 volts.<\/p>\n<p>The company was founded in 2009 by Paul Johnson and Jason Latham.<\/p>\n<p>They had worked as engineers for national electricity providers. Their wives Katrina and Sharon became managers in the business.<\/p>\n<p>In 2011, they were joined by Lee Bavington who later become operations director and whose wife Adele also joined the company.<\/p>\n<p>The buy-out will allow the Lathams to step down from the business, with the other two couples acquiring their shares.<\/p>\n<p>Lee Bavington said: &#8220;We are grateful to Mercia for their assistance and guidance to allow us to take the company forward.&#8221;<\/p>\n<p>Mercia is one of the few loan providers able to fund management buy-outs in small firms.<\/p>\n<p>Its EV <a href=\"https:\/\/www.mercia.co.uk\/about-us\/funds-we-manage\/ev-sme-loans\/\">SME Loans fund<\/a> provides loans between \u00a3150,000 and \u00a31 million to established and growing SMEs across the UK.<\/p>\n<p>Andy Heaton, investment manager with Mercia, said: &#8220;Power Installations is a specialist firm with a skilled workforce and a strong reputation in the industry.<\/p>\n<p>&#8220;The management team are experienced and keen to grow the business.<\/p>\n<p>&#8220;The deal will give them full control of the company and allow them to take it forward.&#8221;<\/p>\n<p>Mark Jerman, of Watts Commercial Finance, provided fundraising advice to the management team, while Poole Alcock provided legal advice.<\/p>\n<p><em>(Pic: Andy Heaton from Mercia, left, with Lee Bavington, Paul Johnson, Adele Bavington and Katrina Johnson)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nantwich firm Power Installations has been bought out in a six-figure deal.<\/p>\n<p>The Cheshire contracting firm underwent a management buy-out, backed by a loan from Mercia.<\/p>\n","protected":false},"author":1,"featured_media":51887,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7089],"tags":[7391,7392,7389,7390],"class_list":["post-51883","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-buyout","tag-loan","tag-mercia","tag-power-installations"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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