Posted: November 21, 2012
“Burgess Hodgson have been magnificent.” So says John Bird, former owner of long-standing Kent firm the Abird Group for whom Burgess Hodgson acted in the sale of his (and his family’s) shareholding in the business to HSS, a leading national supplier of tools.
Parent company Abird Superior Ltd had been a client of Burgess Hodgson for four years after moving from their previous firm. “We were looking for a more proactive accountants and were recommended to Burgess Hodgson, who had an excellent reputation for providing forward thinking advice.”
Burgess Hodgson, through partner Ken Jones and manager Tom Saltmer, were instructed by Mr Bird to advise on the structuring of the HSS deal, the taxation issues and to liaise with the sales agents and various professional firms involved.
“Burgess Hodgson have been excellent at getting all the facts and figures that HSS needed and sorting out the historical position of the company which HSS’s lawyers needed. When it came to the financial discussions, I left everything up to Ken and Tom – they did all the negotiations on my behalf.”
The substantial deal will see the retention of the Abird senior management team led by managing director Chris Anspack and will enable the company to enhance its position as a market leader in diesel generator hire.
Meanwhile principle shareholder John Bird and his family will now exit the business having sold his stake to HSS.
The company, which has seven depots employing 60 people across
England and Wales, will continue to operate under its own brand and be led by its current management team who remain committed to the business.
Commenting on the deal, John Bird said: “Burgess Hodgson have been excellent in all the negotiations on our behalf.
“Burgess Hodgson have been incredibly supportive throughout the whole process, despite a number of difficult issues that needed to be solved along the way. The firm’s advice has been superb, and we have all been extremely well served.”