Established in 1974 and headquartered in Shipdham, Norfolk, Falcon Cranes has evolved from a regional tower crane supplier to an international brand, selling and renting tower cranes all over the world. The company provides specialised lifting solutions to suit all manner of construction projects, supported by its workforce of over 450 personnel and running a fleet of over 400 tower cranes.
The MBO provides a new shareholding structure that reflects the operational contribution of the current business and facilitates a full exit for the founders Doug Genge and Barbara Brown from their shareholding.
Managing Director, Andrew Brown said, “This deal marks an important milestone for our business, and I am thrilled to have led the management team towards this exciting new phase. We are delighted that the founders, Doug Genge and Barbara Brown will remain on the board to pass on the benefit of their experience to the new management team. Since it was established, the business has gone from strength to strength and we look forward to driving it towards the next chapter of its impressive journey.”
The MBO process was project managed by Cambridge-based advisers, PEM Corporate Finance.
Philip Olagunju, Director at PEM Corporate Finance said, “Falcon Cranes is a long-standing client of PEMCF, with our colleague Lake Falconer advising on their first MBO in 2006. Over the last 15 years, we have witnessed first-hand the growth of both the business and its management team. I’m delighted that we’ve once again advised on the sale of Falcon Cranes to an excellent MBO team, this time lead by Andy, whilst facilitating a full exit for Doug and Barbara. All of us at PEM Corporate Finance wish everyone the very best for the future.”
Corporate law specialists, Oliver Pritchard and Brigitta Naunton from Howes Percival advised the management team on the legal aspects of the buy-out.