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May 29, 2023
Deal struck for portable building company
A Tamworth-based portable building company has been acquired by French group Lauralu in a deal advised on by BDO LLP. Portable Venues, trading as Smart-Space, specialises in the supply of temporary,
A Tamworth-based portable building company has been acquired by French group Lauralu in a deal advised on by BDO LLP.
Portable Venues, trading as Smart-Space, specialises in the supply of temporary, semi-permanent, and permanent buildings. It has been purchased by Lauralu through its parent company, SAS TempAsset.
Smart-Space works with a range of notable brands, such as Kia Motors, Dairy Crest, Airbus, Exon Mobil, and Jaguar Land Rover. Established in 1985, it employs more than 60 people in the West Midlands, offering building and installation, maintenance and support services.
Antony Hunt, the founder of Smart-Space, said: "BDO positioned our company in a way which reflected its true value, whilst setting out clearly the advantages to any potential buyer. After an agreed period of marketing and negotiations, BDO came up trumps and delivered a win-win solution.
"We as sellers are comfortable with the value placed on the business and subsequent sale price, whilst I'm sure the buyer is every bit as excited about this new opportunity. This could not have happened without the professionalism or spirit of goodwill of the BDO team."
BDO acted as M&A advisers to the shareholders of Portable Venues, led by partner and head of global M&A John Stephan and director Alan Chan, supported by Elle Oldham (assistant manager).
Its tax team of partner Paul Townson and John Angood (director) also advised on the sale, with partner Steve Talbot and Lauren Bryan (manager) providing advice to the company on tax planning.
Stephan said: "Portable Venues is a fantastic example of a homegrown, family-run business that has built up a stellar customer base and a strong reputation in the temporary buildings sector over several decades through a focus on customer service."
Chan added: "Their track record made it extremely appealing to a number of buyers in the sales process, with Lauralu ultimately winning the race in its desire to expand its presence in the UK market and take advantage of the robust foundations already built in the sector by Smart-Space."