Blueprint Interiors completes MBO with support from PKF Smith Cooper
A management buyout has concluded for Midlands-based interior design and advisory company Blueprint Interiors. The deal was supported by professionals from PKF Smith Cooper.
A management buyout (MBO) is a form of acquisition in which a company's existing managers acquire a large part, or all, of the company, whether from a parent company or individual. Often backed by venture capital, such deals can help fuel new periods of growth for a company following the refinancing – while also retaining a company’s independence.
Founded 23 years ago by Rob Day, Blueprint Interiors transforms workspaces for businesses across the UK, specialising in ‘people-focused’ office design and fit outs that prioritise wellbeing and productivity.
The workplace consulting and interior design company has undergone an MBO to strengthen itself for the future, after the decision of Day to move towards retirement.
Day had continued to serve as the firm’s chair, and after the deal he will continue to support Blueprint as a consultant. But ownership of the firm will now transfer to the management team, consisting of Rachel Biddles and Chloe Sproston.
Operations director Biddles and creative director Sproston have had significant roles in shaping the company during that time, having worked for the business for 22 and 19 years respectively. Speaking on the deal, Biddles noted that the new ownership will enable Blueprint to “drive forward innovation and quality in workplace design” – while thanking Day for being “an incredible mentor” in the lead-up.
The Leicestershire-based company was supported throughout the MBO by partners from Midlands-based accounting and advisory firm PKF Smith Cooper. The team was led by Senior Partner David Nelson and Tax Advisory Partner Gary Devonshire, and offered up specialist advisory services and tax support.
Nelson said of the work, “It has been a pleasure to assist the management team at Blueprint Interiors as they embark on this next chapter and transition to new ownership. It’s always great to see key individuals, like Rachel and Chloe, have the chance to outright own the company they have helped run and build for many years. I am confident that the business will continue to thrive under their ownership and wish them every future success. We also congratulate Rob on his stellar career and wish him all the best for the next stage of his retirement plans.”
PKF Smith Cooper is the network member of PKF in the Midlands, providing individuals and businesses in the region and beyond with a full range of audit, accountancy, tax and advisory services. The company has completed over 100 deals worth a combined £2 billion in the last year.