SPARK Advisory Partners Limited (“SPARK”) has advised MMGG Acquisition PLC, the vehicle established by the management team of Morson Group plc (“Morson”), on the successful £61m MBO and take-private of Morson.
Established in 1969, Morson is the largest technical staffing company in the UK and provides technical contracting personnel to the aerospace and defence, nuclear and power, rail and other technical industries. Morson floated on AIM in March 2006 with a strategy to grow the business utilising a public quote. However, earlier this year, at the request of certain shareholders, the management team commenced the process of taking the Company private. The SPARK team, led by Matt Davis and Mark Brady, assisted MMGG in raising leverage to finance the deal, structured the transaction and led shareholder negotiations.
Commenting on the transaction, Matt Davis of SPARK said: “Having worked with the business and the management team since before Morson’s flotation in 2006, we were delighted to be able to continue our longstanding relationship by advising them on all aspects of this transaction.”
Ged Mason, CEO of MMGG/Morson Group, said: “We have enjoyed a close relationship with the team at SPARK and their advice on this important transaction was instrumental in its success. We are delighted to have supported SPARK in its new corporate advisory business and wish them every success in the future.“