Eville & Jones (E&J) has been acquired by Phenna Group, bestowing market share, fresh expertise and a broad operational footprint to augment its fast-growing portfolio of services for the Food and Health Sciences sector.
Parsons, Chartered Accountants supported the management team at E&J to nurture resilient growth in preparation for acquisition, supported the marketing of the business to source an ideal buyer and advised on the corporate finance intricacies of the deal.
Ian Parsons, Managing Partner and Head of Corporate Finance at Parsons said: “We’ve worked with E&J since 2018 and have a high regard for its management team. It’s been a pleasure to witness the business flourish under their care and see such a successful outcome to our hard work. We wish their new team all the best for the future.”
In its financial year to 30 April 2023 E&J Group revenues were c. £48 million and rising, and by headcount, the firm represents Phenna Group’s largest deal to date.
Rob Jones, Chairman of E&J said, “I’m extremely proud of what we’ve accomplished over the past 30 years; the time is right for me to step out and I wish the business well, confident that it is in the best possible hands for a bright future.
“Parsons have guided us through the complexities and challenges of the transaction with cool and reliable expertise. They have been ever-present throughout, responsive to our requirements and consistently demonstrated a high level of experience and technical competence. We have benefited from the attention to detail and calm precision that they have applied at every stage of the negotiation, and they have been instrumental in bringing us to this mutually beneficial outcome.”
The addition of E&J’s experienced team to the existing Phenna group workforce creates a UK wide footprint of experts which will enable the business to leverage into new, complementary services as it continues on its ambitious growth trajectory.
Eville & Jones were advised by Parsons Accountants, Blacks Solicitors, and Claritas Tax. Phenna Group were advised by Avonhurst and RSM.