Springboard Corporate Finance is pleased to announce that it has advised on the sale of FT Leisure to a management buyout team.
About the deal
FT Leisure is a leading national provider of products and services to the commercial, municipal and private swimming pool industries in the UK. Services include the design, manufacture, installation, commissioning and refurbishment of swimming pools. In addition, to its core business, FTL has a rapidly expanding maintenance division servicing: water treatment and filtration systems, moveable floors, booms and disabled access platforms, ozone and UV sterilisation, wave machines and leisure water features.
Founded in 2003, the company has grown rapidly over the last five years with turnover quadrupling to £8m.
The deal was led for Springboard by Partner David Neate. Commenting on the transaction, David said: “the sale of the business to management team was always the preferred option for the exiting shareholders. We are delighted to have been able to advise them to ensure they received appropriate value”.
How we made a difference
- Independently valued the business on behalf of the Shareholders;
- Advised the Shareholders on their exit options and implemented the most appropriate strategy; and
- Leveraged the potential marketing of the business to insure appropriate value received for the business from the management team.
John Leigh, former shareholder and Director of FT Leisure
Springboard was chosen for their experience, professionalism and flexible approach. Springboard's view of the company's worth was accurate and stood up well to extensive scrutiny from the Buyers. Springboard's pragmatic advice on the best exit route and their commitment to ensuring that we obtained full value from the management team was invaluable. We can without reserve recommend the excellent service which was provided