Gradwood, a specialist in heating, ventilation and air conditioning (HVAC) based in Stockport, has been acquired by Denmark’s IPO Capital Group for an undisclosed sum. This transaction keeps the shareholders at the helm on a part-time basis, with a new chairman added to the board.
Manchester-based financial services firm, Sedulo Corporate Finance, provided advisory support to Gradwood throughout this acquisition. Tony Davies, a representative of Gradwood, expressed pride in the company’s achievements, stressing the importance of finding buyers who prioritise the business’s legacy. ‘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,’ he remarked.
Benn Longshaw from Sedulo Corporate Finance spearheaded the transaction for the vendors, with legal representation from Benjamin Dredge and Ali Iqbal of CG Professional. Funding for the deal was supported by Close Brothers. Longshaw stated, ‘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 been actively expanding its Deal Advisory division in 2024, with notable appointments contributing to what is anticipated to be a record year in dealmaking. Logan Rowan joined as National Head of Transaction Services from KPMG’s London office, and Amit Rungta was appointed as Transaction Services Director, further bolstering the team’s capabilities. Sedulo anticipates continued recruitment and the completion of several transactions as it solidifies its market position in Transaction Services and Corporate Finance.
The acquisition of Gradwood by IPO Capital Group signifies continued growth and future opportunities for the HVAC specialist under new leadership. The involvement of Sedulo Corporate Finance throughout the transaction underscores the importance of expert guidance in facilitating successful business acquisitions.