RM Consultants Limited
Client interview: RM Consultants Limited
Activity: Identification, assessment and management of risks in safety and environment for the nuclear industry
Name: Dr James Fitzpatrick, Managing Director
Why did you decide to sell your business?
‘We decided to sell for a number of reasons. The nuclear industry had begun to change and after receiving 3 - 4 approaches from potential acquirers each year this suddenly increased to 8 – 9 in the first quarter of 2007. Also we (the Directors) were at ages which meant that we would have to pass the running onto new owners within the next few years.’
How did you find out about BCMS Corporate and why did you select us to sell your business?
‘One of the directors conducted detailed research into a range of potential companies who specialise in selling companies to identify one suitable to help us with selling our business. He recommended BCMS Corporate. Three directors had an initial meeting with BCMS Corporate and subsequently agreed to appoint BCMS Corporate. We had also realised that selling a company was a specialised task and we did not have the necessary skills ourselves. We are a specialist company ourselves and it made sense to employ a company with the required specialist skills to help us sell our business.’
How did you feel the sale process was managed?
‘It was managed effectively and efficiently. Our Client Manager, Jeanette Mackie, worked hard for us and generated many meetings with potential acquirers and our Deal Leader Andy Williams supported and assisted us with the presentations and negotiations.’
How important was confidentiality?
‘Very, we didn’t want news of a sale to spread within the industry until matters had reached an advanced stage. Any leaks can be very unsettling for staff and for our clients.’
Did the sale process affect the everyday management of your company?
‘Inevitably yes. However, we planned to limit the effect by appointing two directors to participate in the presentations and early negotiations. The other directors continued to manage the company on a daily basis.’
Are your staff staying with the company and was this an important factor in the sale process?
‘Yes, all staff are staying. It was very important for us that the acquirer was going to offer a good future to our staff and minimise any disruption by changing terms and conditions of employment. This was a significant factor in choosing the offer from Areva.’
Will you have any involvement in the business post sale and if not what does the future hold for you?
‘Yes. All the shareholder/directors have signed a contract for a minimum of three years, and if the work proves to be as exciting as promised it will probably be longer. We enjoy working at the Company and are looking forward to the additional resources which will be available to us from Areva.’
Would you recommend BCMS Corporate’s services to another company considering selling?
‘Yes, without hesitation.’
How satisfied were you with the sale price and terms achieved?
‘Very happy. The financial offers were more than we initially expected and once past that point our decision was very much based on what was on offer to the staff and the future prospects for the Company. The offer chosen was the second highest financial offer but the future prospects for staff and shareholder/directors plus the integration plans were much better than the alternatives amongst the top three or four offers.’
What is your overall opinion of BCMS Corporate?
‘Good. We are very pleased.’
