BCM Construction has effectively changed hands as three of the management team have acquired the majority of the company’s shares.
Shane O’Halloran, Stuart Jackson and Dan Wiscombe, who have a combined record of more than 20 years’ service with BCM, have bought out founder Hugh McGarry and finance director Terry Sullivan, both of whom have retired from active involvement in the company.
The deal includes BCM Construction, a leading principal contractor for rail and transportation sector infrastructure projects, and two associated companies – Construction Hire Solutions and Equate Design. Together with BCM, these will now fall under the newly formed Enable Investment Holdings group company.
The management buyout was supported by the vendors from the outset and has been structured to boost the businesses, with the management team investing cash and a deferred consideration to vendors that will be paid out over the next three years.
Shane O’Halloran commented: “We are delighted to announce this buyout, which is the completion of a long and well-considered succession plan which has been several years in the making.
“The management team would like to thank the vendors for their faith in supporting this transition and we look forward to continuing our journey with BCM and its sister companies.
“There are many exciting developments coming down the track which we look forward to implementing over the coming months and years.
“We would be nowhere without our dedicated staff and loyal customers, who we thank for their continued support.”
BCM, which was established in 1985 and has built a strong reputation in delivering infrastructure projects across England and Wales, employs 80 people and will deliver around £40 million in the current year.
Flagship company BCM has experienced strong performances in recent years, during which time it established its sister organisations to vertically integrate key supply chain activities. All three businesses are performing strongly, have solid opportunity pipelines and are well-funded.
While the rail sector remains a key focus area for BCM, a diversification strategy has resulted in successful contract awards in the utilities, local authority and highways markets, providing growth and a strong opportunity pipeline.