Gradwood, a Stockport-based heating, ventilation, and air conditioning (HVAC) specialist, has been acquired by Denmark’s IPO Capital Group for an undisclosed sum. The previous shareholders will continue to manage the company part-time, and a new chairman has been appointed to the board.
Manchester-based financial services firm, Sedulo Corporate Finance, advised Gradwood on the transaction. Tony Davies from Gradwood expressed pride in the company’s achievements and highlighted the importance of finding a buyer with the business’s best interests in mind. He stated, ‘We’re really proud of what we’ve achieved at Gradwood, so it was vital for us to find buyers who we can pass the legacy on to with the best interests of the business at heart. We’ve found this in Yusufa and the team at IPO Capital Group, so a heartfelt thanks to Benn and his team at Sedulo for sourcing a fantastic buyer and guiding us through the process of moving on our company from start to finish.’
Benn Longshaw of Sedulo Corporate Finance led the deal for the vendors, with legal support from Benjamin Dredge and Ali Iqbal of CG Professional. Funding support for the transaction was provided by Close Brothers. Longshaw remarked on the complexity of such deals but expressed satisfaction with the outcome, stating, ‘Whilst deals like this can always be tricky, it was genuinely a pleasure to work with the shareholders Nick and Tony, as well as the founder of IPO Capital Group, Yusufa Sey, to get the deal over the line. I’m looking forward to seeing how Gradwood progresses and best of luck to everyone in the future.’
Sedulo has experienced a surge in its Deal Advisory division, with 2024 poised to be a record year for deal-making activities. The firm has strengthened its team by appointing Logan Rowan as National Head of Transaction Services from KPMG’s London office and Amit Rungta as Transaction Services Director. Sedulo anticipates continued growth in expertise alongside the completion of several deals, consolidating its position in the market for Transaction Services and Corporate Finance.
The acquisition marks a significant step for Gradwood and reflects the dynamic nature of the HVAC industry in the North West. The involvement of Sedulo Corporate Finance underscores the complexity and importance of expert guidance in corporate transactions.
