Michelmores advise on EMCAS management buyout
Michelmores' Corporate team has advised James Scarth and Richard Hopwood, the incumbent management team of EMC Advisory Services (EMCAS) on their management buyout of EMCAS.
EMCAS, headquartered in Paignton in Devon, advises consumers who are unaware or unwilling to claim redress for losses suffered as a result of malpractice by institutions when selling and providing financial products and services.
The deal was supported by an £8m investment from Praesidian Capital Europe, to expand the Firm's growth plan through the development of its operation platform, as well as provide funds for acquisitions.
James Scarth and Richard Hopwood will continue in their roles as Finance Director and Commercial Director.
The Michelmores team supporting the MBO comprised Partner Stephen Morse, Director of Tax Brian Garner, Senior Associate Karl Taylor and Solicitors Megan Wright and Tom Williams.
James Scarth said,
"We have been associated with Michelmores for several years now, and look forward to our continuing relationship with them as we take EMCAS into a new era."
Stephen Morse, Partner and Head of Michelmores' Business Group, said:
"We are delighted to have acted for EMCAS on this strategic MBO and wish the management team every success. This latest investment signifies a great opportunity for EMCAS' continued growth and expansion."