Wednesday 19.03.2008

Halliwells Advises NBGI Private Equity on Jolly Good Deal for Lancashire Mechanical and Electrical Services Company

Law firm Halliwells has provided legal advice to NBGI Private Equity, the mid-market buy-out specialist, on its backing of the MBO of T Jolly, Lancashire's leading mechanical and electrical engineering services provider. Mark Gordon, who joined the Company six months ago as a consultant, leads a highly experienced team with a mandate to grow the business regionally both organically and through acquisition

Halliwells' team was led by corporate partner and private equity specialist Paul Jefferson.

Founded over a hundred years ago, T Jolly is a £20m turnover mechanical and electrical business based in Preston and servicing public and private sector clients across the North West. It designs and installs heating, ventilation, electrical and air-conditioning systems for new buildings and refurbishments, as well as providing maintenance and rapid emergency response services to property owners. Alan & Susan Stoker bought T Jolly in 1979 and in recent years has expanded the firm through the acquisition of three further businesses, DL Refrigeration, Dutton Plumbing and Norman Peplow. The Company operates from offices in Preston, Bolton, Blackpool and Wigan and employs 188 staff.

Mark Gordon and the management team intend to expand the Company's geographical coverage through acquisition and further develop the Company's capabilities. Gordon will become CEO of T Jolly, with George Jackson continuing in his role as Managing Director, supported by Joe Turner, John Slater and Sue Lea as heads of installation, maintenance and finance respectively.

Mark Gordon, speaking on behalf of the management team, said:

"T Jolly is a company with an excellent pedigree that has been developed through thirty years of delivering high quality services to its clients. The management team are delighted to have been given the opportunity to take Jolly forward as an independent business taking advantage of Jolly's great culture to deliver the growth we believe the company is capable of producing. NBGI have provided good support through the course of the deal and we are looking forward to working with them on the delivery of our strategy over the coming years."

Joseph Bergin, Director of NBGI Private Equity who has joined the board of T Jolly, commented: "NBGI Private Equity is very pleased to back the buyout of T Jolly. This is the second investment in our £100m second fund and the first in the North West region since the opening of our new office in Manchester. T Jolly has a clear reputation for excellence in its engineering services and strong competitive position in the North West underpinned by the quality of its people. We are looking forward to supporting the management in its plans to take the Company to the next level, thereby continuing NBGI Private Equity's track record in backing successful high growth companies."

About Halliwells

Halliwells is one of the UK's leading multi-disciplinary law firms with over 1000 people and offices in Manchester, Liverpool, London and Sheffield



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