BHP Corporate Finance is delighted to have acted as lead advisor to SCX Special Projects and its shareholders in a landmark deal.
The deal brings to fruition the planned succession in the ownership of the business and sees Elysian Capital make a substantial investment to acquire a majority stake, alongside the company’s existing management team led by CEO Andy Whitworth.
Headquartered in Sheffield, SCX Special Projects has developed a unique position within the UK as a provider of highly bespoke design and engineering solutions across a range of sectors, including nuclear, defence, aerospace and sports stadia. It announced itself on the world stage of kinetic architecture with the design and successful delivery in 2009 of Wimbledon’s iconic retractable Centre Court roof. Since then it has designed and delivered other landmark kinetic architecture projects including a second retractable roof at Wimbledon over its Number One Court and the ground-breaking retractable, dividing pitch at the new Tottenham Hotspur stadium.
Simon Eastwood, who is standing down as chairman of SCX Special Projects to focus on his other business interests, said: “I realised several years ago with the increase in very high profile projects that the company had an incredible future. Having worked with Andy Whitworth since 1992 and seen the way the business has developed, we felt the time was right to bring on board new investment and expertise to allow Andy and his team to realise the true potential of SCX Special Projects.”
“BHP Corporate Finance have led this process throughout. Despite the complexities of both the business and the transaction, we have been fortunate to have highly experienced and skilled advisors to guide us from start to finish. I am delighted that we have found in Elysian Capital a partner who can help take the business to the next level and, as a continuing shareholder, I look forward to its future success.”
SCX Special Projects’ CEO Andy Whitworth will continue to lead the business supported by the existing senior management team of Danny Pickard, Dave Little, Nigel Montgomery and Sophie Stead. All of the senior management team have invested in the business to become shareholders.
Andy Whitworth said: “We are very excited about the next phase of SCX Special Projects. Our growing reputation, helped by a number of recent high profile projects, has generated significant enquiries especially from overseas, a market we have only recently started to develop. We are therefore looking forward to working with Elysian Capital to capitalise on the major growth opportunities which we are seeing both in the UK and internationally, and are particularly grateful to the whole team at BHP Corporate Finance for making this deal happen. We couldn’t have done it without their guidance, support and wit!”
David Forrest, Kevin Davies and Declan Savage led the multi-disciplinary team which acted as lead advisor to the company and shareholders on the transaction. David Forrest said: “SCX Special Projects is the sort of company you don’t come across every day – an outstanding business with truly world class design and engineering capabilities and an incredible track record. Completing this deal represents a highly satisfying conclusion to an extended process in identifying the right partner for the company going forward. I’m confident we’ve done that and with Elysian Capital’s support I look forward to seeing Andy and his talented team realise the true potential of this exceptional business.”
A pitch perfect way to move(!) towards the end of what is already a record year for the BHP Corporate Finance team.