Kingston Smith completes successful MBO of Adams Environmental
We are delighted to announce the successful acquisition of environmental consultancy firm, Adams Environmental Limited, in a management buyout led by John Passmore.
With assistance from the Kingston Smith corporate finance team and Cadence Advisory, Passmore bought the business from the existing shareholders with backing from IGF. One shareholder, Jeff Bowdery, has retained an interest in the business and will work as a consultant alongside John going forward.
Passmore said: “I was introduced to John Cowie at Kingston Smith through a mutual business contact in early 2018. He and his team worked tirelessly to guide me through the process, helping find the backers to finance the acquisition and talking me through each step. I hadn’t appreciated how complex buying a business can be and I am delighted with the level of support and expertise Kingston Smith were able to provide. Together with Stuart Fleet at Ashfords Solicitors, they made a great team and I can truthfully say I couldn’t have done it without them.”
Adams Environmental has a particular specialism in asbestos management and provides fully accredited reports and advice in relation to its removal and disposal. The company also provides services in respect of air quality, inspection, testing and health and safety. Its clients include a roster of businesses ranging from high profile public institutions to smaller private companies.