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On 29 October 2024 Pickering Group Limited completed the acquisition of 100% of the share capital of Mumford Engineering Limited. Scrutton Bland, part of the Sumer Group, acted as lead advisers to the Pickering Board during the transaction.
Mumford Engineering Limited are a key supplier to the Pickering Group Limited and this acquisition provides future certainty to the employees and former shareholders and directors of Mumford Engineering, all of whom will remain with Mumford Engineering following completion of the acquisition.
Located on the same Clacton industrial estate as Pickering’s HQ, and having worked closely together for the last 45 years, Mumford is now wholly owned by Pickering Group Ltd (who also own Pickering Interfaces Ltd and Pickering Electronics Ltd as well as having a number of overseas subsidiaries).
Pickering Group have just commissioned a refit to another local property closer to the Pickering Group operations, to provide a more modern working environment for the Mumford team, with the move expected to be completed in the summer of 2025.
The acquisition means that Pickering can invest in equipment, processes and especially in people at Mumford over the next few years, to the benefit of all Mumford employees and customers, including Pickering.
Scrutton Bland were delighted to support this acquisition – the first for Pickering Group Ltd – as professional advisers to the board.
Mark Smith, Corporate Finance Director at Scrutton Bland said “It was a pleasure to work with Keith and Claire and the rest of the Pickering Board on this acquisition. From the outset we had a very clear idea as to where we needed to focus our work and where the Pickering Board could input into the process. As always with these transactions, regular visits and calls really helped to get the process over the line – particularly when neither party had been involved in a similar transaction before.”
Keith Moore, Pickering Group Ltd’s Managing Director commented “Having grown organically since my father started the business in the late 1960’s, this was the first acquisition that we’ve completed and the support of Scrutton Bland was invaluable to us throughout. Their ability to explain sometimes complex matters in layman’s terms for what was our first acquisition was particularly important to the Pickering Board”.
Claire Key, Pickering Group Ltd Finance Director commented “As an already large group, it was great to have Luke and Mark from Scrutton Bland on board with us as during the transaction. Their hands-on approach and ability to provide practical and commercial solutions to the inevitable bumps along the road was invaluable and it was great to have professional advisors who are so relatable”.
From left to right: Ian Johnston (Pickering), Luke Morris (Scrutton Bland), Keith Moore (Pickering), Stephen Hewes (Mumford), Poppy Moore (Pickering), Mark Smith (Scrutton Bland), Claire Key (Pickering), Glen Ball (Pickering)
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