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KRE lead advisors on Total Engine Support Limited Acquisition

 

The TES Group operates in the aircraft engine sector and is headquartered in Bridgend, South Wales employing 67 people.

Partners in KPMG were appointed as Administrators to the Group and Willis Asset Management Limited, a subsidiary of Willis Lease Finance Corporation Inc acquired the consultancy side of the business. As part of the sale, 32 employees transferred to Willis.

KRE Corporate Recovery acted as lead advisors to Willis on the acquisition and Preston Sutter, Director of Willis Lease Finance Corporation, commented;

“When presented with the opportunity to acquire a business in the UK through a pre-pack Administration process, Paul Ellison and KRE were recommended to Willis Lease as advisors. We could not have completed the transaction in the abbreviated timeframe provided without the help of the team at KRE. Their wealth of experience with UK Administration was readily apparent and was invaluable in assisting us in navigating the challenging UK legislation which is wholly unfamiliar to us as an U.S. based corporation. Paul was willing to provide advice, make recommendations and to take the lead in dealings with the seller, when necessary. We are extremely grateful to KRE for their commitment that ultimately made our transaction a success!”

Preston Sutter – Willis Lease Finance Corporation – Director, Financial Planning & Analysis

Paul Ellison commented;

“The Willis team were brilliant to work with, professional in every aspect and we were delighted when the acquisition was completed and are sure that the business will go forward now on an extremely strong financial footing. The days were long as when the business in Wales closed at 6pm the Willis team in the US were just waking up ready to drive the acquisition forward. We wish them every success”

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“Trios Group Plc, a £50M turnover national maintenance provider, purchased a business in administration from KRE. As an experienced acquirer of businesses, we found Paul Ellison and his team highly professional and knowledgeable, whilst clearly focused on completing a swift deal, which both maximised value and reassured staff. We were particularly grateful for KRE’s empathy with the business and post deal handover, which enabled a smooth transfer of ownership.”

Sandra Harris –Group Managing Director – Director, 8 December 2014

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“The highly professional services that KRECR have provided to our own clients in time of need have been much appreciated by all concerned. The balanced, considered and efficient way matters were dealt with in all cases is a credit to all the KRECR partners and staff”

David Harlow – Harlows Accountants – 8 October 2014

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Reading Football Club

Please click on the below link for Sir John Madejski’s testimonial;

Reading Football Club Testimonial

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“You helped everyone including Wokingham Borough Council to see the seriousness of the situation, the result of which was an agreed rescue plan. Although not out of the woods yet, we have survived another six months with Wokingham Borough Council’s help, which in no small way was down to your help.”

Alan Leason– Finance Director for Woodley Age Concern – 23 September 2014

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“Whenever I come across a company with cash flow problems that has a complex situation I always speak to KRE. I know that they will absorb it all very quickly and give me the best practical advice about the various options and next steps. I always use them as they are the best in the business and cannot recommend them highly enough.”
John O’Mahony – Solutions 4 Business – Managing Partner (Accountants)

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“We have worked with Paul and his team now for over 20 years both in a professional relationship and with those clients of ours who have experienced difficult times and their advice is always in the interest of our clients. They will look for practical solutions and where possible seek to save the business and avoid a formal insolvency, meeting with the management of the businesses concerned to explain and assure them of the options available to them. Where an insolvency is inevitable their team deal with it professionally and courteously which is what we look for. All of our clients who have worked with them whilst their businesses were experiencing difficulties praised the advice and assistance Paul and his team were able to provide them with.”
David Hurst – HMT Group – Managing Partner (Accountants)

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“We have been associated with Paul Ellison and his team for more than 10 years.In a difficult area they have provided an excellent service to our clients. They are very professional,attend to business at short notice and nothing is too much trouble.We have always been thanked most sincerely by those we have introduced.”
Roger Wise – Wise & Co – Senior Partner (Accountants)

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“We have worked with Rob, Paul and Gareth over many years and can well understand why they would be the preferred choice for discerning professionals who, like us, do not have a corporate recovery offering. They are great to work with, knowledgeable, trustworthy and talented with huge experience built over many years of doing great work. Seriously well networked and very good communicators, they consistently show that they are very much “people people” in what can be a stressful environment for many of their clients. Success for them is not merely the ‘transaction’ itself but the focus on the people and their futures including all the stakeholders within any particular transaction. Through providing great service they have in my view justifiably earned their place in the business community as great people to do business with. I know many other professionals including Bankers who share my view”.
Ross Wilson – Wilson Partners – Partner (Accountants)

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“Gareth and Paul have acted for Thames Valley Capital on several occasions, both in advisory capacity and as Administrators of a company where we needed to recover our debts. We have found them to be very responsive, flexible on fees and to have empathy with all stakeholders.

The Administration was of a group of companies with an AIM listed PLC parent company and a trading subsidiary in the North West of England. Gareth and Paul worked hard to find a creative solution to the group’s problems prior to Administration and eventually found a buyer for the subsidiary which helped maximise realisations and enabled a significant repayment of our debt”.
Bruce Gordon – Thames Valley Capital – Director (Venture Capital)

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“Robert Keyes is our first choice in dealing with clients requiring recovery assistance. He is a great communicator and is able to set out solutions to our clients in an efficient and straight forward manner. Having Robert on side during a complex process at a difficult time is a real advantage, he has a professional and courteous style.”
Yavan Brar – Herrington & Carmichael – Partner (Solicitors)

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