A well planned and orderly sale process allowed bespoke’s shareholders Jackie Woodall and Anna Symes to exit the business in just five months, safe in knowledge that they were ‘passing the baton’ to a like-minded buyer with strong values at heart.
The team at Randall & Payne had enjoyed a successful working relationship with bespoke Cleaning Services since 2013. Throughout the entire engagement period we had prepared quarterly management accounts and met on a quarterly basis to dig into the numbers and establish short-, medium- and long-term strategy. We truly felt invested in the journey that the business was taking and built the appropriate service offering which met with their growing needs over the period.
Jackie, Anna, and Jackie’s husband Mark, had all previously worked with national facilities management companies and were confident they were able to provide a more client-centric service model. In light of this, they formed bespoke Cleaning Services in 2002, which grew to a £10m turnover company prior to sale. Since its inception, the company has enjoyed an enviable reputation and has established itself nationally as a leading provider of cleaning services into the education and daily office cleaning sector.
In 2023 Jackie and Anna commenced discussions with us to understand how exiting the business could best be achieved and the steps within the process. We were able to run through the phases in our tried and tested sale mandate approach, which provided Jackie and Anna the comfort they needed to embark on this critical next step in their business journey.
We carefully selected potential acquirers of the business and carried out a robust follow up process, leading to the release of a high-quality Information Memorandum to carefully vetted parties. The Information Memorandum aimed to capture the culture and ethos of the company, along with its strengths in resources and operations. The purpose of the Information Memorandum was to provide the buyer with all the necessary details that allow them to make a considered preliminary offer.
The pre transaction preparation allowed our Corporate Finance team and Higgs LLP lawyers to maintain a streamlined sale process. The team used all-party catch-up calls on a weekly basis to maintain momentum through to completion. This was aided by exceptional C-suite level buyer engagement from Atlas FM Group Limited which ensured swift decision making and pragmatism.
The Atlas FM Group, the fastest growing privately-owned support services business in the UK, focuses on business growth coupled with the desire to maintain a culture of family, with staff being ‘the beating heart’ of the company. This business culture, which was so evident to Jackie and Anna from their first face to face interaction, provided the reassurance they needed that Atlas would support bespoke on the next steps in its journey.
We recognise that a business sale can sometimes feel overwhelming. Explaining the process in detail from start to finish allows the client to rationalise the process and through our knowledge and experience we make the process as streamlined and efficient as possible.
Contact Ollie or Hari for more information by emailing oliver.newbold@randall-payne.co.uk or hari.pillai@randall-payne.co.uk or call 01242 776000
It was difficult to decide when the time was right for us to find a new buyer for the company. After so many years it was like handing our baby over to someone else.
Reaching the decision to sell, we found the process with Randall & Payne structured from day one and they gathered all of the required information that would make us a viable company to be purchased. At no time did we feel stressed during the process as we understood everything that was happening. The whole process took just 5 months, with only 2 months from the initial meeting with Atlas through to completion. When this timeline was first discussed we did not think it was possible to achieve this.
With Randall & Payne taking the lead and us providing all of the relevant information for the data room we reached the milestone date of the sale. Thank you to Ollie and Hari for making this process truly painless. We have now merged with Atlas and it was the right decision for the directors and for bespoke. I can see a truly wonderful future or bespoke and its many staff members.”
Jackie Woodall, Director, bespoke Cleaning Services Ltd
