Fit out firm Harris Evolution concludes management buyout
Harris Evolution has completed a management buyout. The deal was supported by Quantuma, who advised the company’s shareholders on the transaction.
Established in 2011, Harris Evolution delivers office and commercial interior fit out projects for clients across the South West and around the UK. The company is known for its customer-focused approach and consistent project delivery across sectors including education, healthcare and professional services.
As the company looks to preserve its unique culture, while bringing in investment to fuel expansion, it has concluded a management buyout. The deal aims to ensure continuity of leadership, while positioning the business for future growth under a shared ownership model.
As a result, the Bristol-based commercial fit out and refurbishment specialist has taken on funding from NatWest, the company’s longstanding banking partner. As part of the move, founder Dean Houghton will be joined by senior team members Kristian Kelly and Craig Arathoon in the firm’s ownership.
Houghton said, "Bringing Kristian and Craig into the ownership of Harris is a proud moment and a natural next step for the business. They’ve both played a key role in our success and will be instrumental in driving our future growth. Scott, Duncan and Fin at Quantuma provided expert guidance throughout the process - collaborative, clear, and pragmatic. They understood the business and what we were trying to achieve, and their support was invaluable."
Deal advisors
Business advisory firm Quantuma has advised on the management buyout of Harris Evolution. Quantuma’s Corporate Finance team, led by managing director Scott Peters and manager Duncan Moore, advised the shareholders throughout the process – from strategic planning through to deal execution.
Scott Peters, managing director at Quantuma, added, "This is a great example of a collaborative MBO that aligns the interests of the founder and the next generation of leadership. Dean has built a strong, reputable business, and this transaction provides the platform for its continued growth with a refreshed leadership structure. We were pleased to support all parties and deliver a smooth, well-structured deal. Our thanks go to NatWest, K3 Advantage, TLT, Ansons, and Ali Legal for their excellent collaboration throughout the process."
The NatWest funding package was provided with legal support from a team at TLT who were acting for the bank. Legal advice to management was provided by Ansons. Financial due diligence was undertaken by K3 Advantage, whilst legal advice to the vendor was provided by Ali Legal.
