South Yorkshire Clerks of Works specialist acquired by Chelverton Investor Club

South Yorkshire’s Hickton Consultants has been acquired by Chelverton Investor Club for an undisclosed sum.

The Club, which was established to offer private investors a simple and discrete means of making direct investments in private UK companies, is part of Bath-based Chelverton Asset Management Limited (Chelverton), a specialist investor in sub-FTSE 100 quoted equities and unquoted SMEs.

Launched 25 years ago by Tony Hickton, Hickton Consultants is a provider of Clerks of Works to the construction sector, performing a Quality Assurance role on high value projects on behalf of project management firms, architects, contractors and end user clients across the UK.

A 13-strong team at the company’s Elsecar headquarters manages 85 Clerks of Works nationwide.

During the acquisition process, the he founder and shareholders of Elsecar-based Hickton Consultants was represented by hlw Keeble Hawson.

Members of Chelverton Investor Club, a syndicate of High Net Worth private investors, together with Chelverton Equity Partners (CEPS plc), a private equity investment vehicle, publicly traded on the Alternative Investment Market (AIM) and raised around £1m of equity towards the transaction, investing alongside Hickton Consultants managing director, Tony Mobbs, with supporting debt finance from Yorkshire Bank Invoice Finance.

Tony Mobbs said: “Our strong reputation precedes us and we continue to go from strength to strength with a robust management team at Elescar and a strong order book. Business is buoyant as we seek to recruit more Clerks of Works, especially in the London region.”

Chris Wilson, a hlw Keeble Hawson partner who led the deal, added: “It has been a pleasure acting for Tony Hickton and his co-shareholders in the sale of this business. The transaction demonstrated that the combination of a well-run niche business and co-operation between the parties and their professional advisers can enable a transaction to proceed smoothly and complete on time”.

Richard Bucknell, Chelverton’s investment director who led the transaction on behalf of Members of Chelverton Investor Club, commented: “Tony Hickton planned for his succession with the appointment of Tony Mobbs four years ago. Since then, the business has continued to develop, and we’re delighted to support Tony Mobbs in acquiring a stake in the company and to help take the business forward at what is an exciting time for the firm.

“As a market-leader in an established but growing niche, Hickton is a classic example of the type of business and investment opportunity that our Investor Club Members are keen to support.”

Hickton Consultants was also advised by Strategic Corporate Finance and Chelverton Asset Management was represented by Roxburgh Milkins, RSM Corporate Finance and Claritas Tax.

hlw Keeble Hawson is one of the largest law firms in Yorkshire, with offices in Leeds, Sheffield and Doncaster.

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