SMH Mitchells is pleased to announce the successful Management Buy-Out (MBO) of Peak Electrical Supplies, a leading independent electrical wholesaler.
The deal was led by Andrew McDaid, Partner at SMH Mitchells, whose specialist expertise in corporate finance and MBO structures played a key role in delivering a successful outcome.
This transaction marks an important milestone for the business, with Nicola and Jason Andrews acquiring 100% ownership of Peak Electrical Supplies.
Nicola and Jason had previously been advised by a smaller accounting firm that did not have the technical capacity to structure or finance a transaction of this complexity. Drawing on extensive experience, including the previous successful MBO of Juice Electrical Supplies, Andrew provided a clear roadmap for the acquisition and project-managed the full lifecycle of the deal.
Nicola Andrews, Director and joint owner of Peak Electrical Supplies, said: “We knew we wanted to take the next step with the business, but we were hitting a brick wall with our previous advisers. Andrew and the team at SMH Mitchells were a breath of fresh air. They didn’t just tell us it was possible, they showed us how to do it and introduced us to the right people to fund it. We are excited to lead Peak Electrical into this new chapter.”
To support the financial stability of the transition, Andrew introduced John Colburn of Skipton Business Finance to the project. Together, Andrew and John structured a multi-layered funding package that utilised Invoice Discounting, unlocking working capital from the company’s debtor book and ensuring the business remained liquid from day one of the new ownership.
The funding package also incorporated the Growth Guarantee Scheme (GGS), which Skipton was uniquely able to deliver. By integrating this government-backed facility into the deal, they secured the additional leverage required to meet the purchase price without placing undue personal strain on the owners.
John Colburn, Skipton Business Finance, commented: “We are delighted to have supported this MBO. By utilising the Growth Guarantee Scheme alongside Invoice Discounting, we’ve provided Nicola and Jason with a flexible financial structure. Working alongside a proactive firm like SMH Mitchells ensures that all moving parts of a deal align perfectly, and the result is a fantastic outcome for all parties.”
This deal highlights the strength of SMH Mitchells as part of the wider SMH Group, combining a personal and local Chesterfield-based service with the resources and expertise of a regional firm. Clients benefit from specialist support across tax planning,
corporate finance and commercial funding, while still receiving the close support of a trusted local team.
Andrew McDaid, Partner at SMH Mitchells, added: “It has been a pleasure to work with Nicola and Jason to help them realise their ambition of owning Peak Electrical Supplies. Many small firms struggle to navigate the complexities of an MBO, but at SMH Mitchells we thrive on finding creative financing solutions. Having previously structured the deal for Juice Electrical Supplies, I knew exactly how to tailor a package that would protect the cash flow of Peak Electrical while providing a solid foundation for future growth.
We are thrilled that Peak Electrical Supplies has become an ongoing client of the firm. Our role now shifts from architects of the deal to partners in their growth. We look forward to working closely with Nicola and Jason to help them scale the business, optimise their tax position, and achieve the ambitious long-term goals they have set for the company.”
Jason Andrews, Director and joint owner of Peak Electrical Supplies, said: “Having seen the level of expertise and the ‘can-do’ attitude the team at SMH Mitchells brought to the table during the buy-out, there was no question about who we wanted by our side moving forward. Knowing we have Andrew and the wider SMH Group supporting our back office and strategic planning gives us the confidence to focus entirely on serving our customers and growing our footprint in the region.”
Image provided by SMH Mitchells
