O’Connors supports Forshaw Group as it builds for the future
A Liverpool-headquartered property restoration specialist has repaid the investment made by funding provider Merseyside Special Investment Fund (MSIF) three years ahead of schedule.
MSIF provided a £500,000 investment to Forshaw Group three years ago to fund a management buyout led by current directors Liam Hanlon and Jay Calvert. Originally set up in 1948, the company was a second-generation family business before changing hands.
Since the buyout, the company has doubled its turnover to £6.3m, and taken on 36 new staff bringing the total headcount to 50. It also employs a team of 150 subcontractors.
In addition, the business has launched an academy to help train up apprentices.
Director Liam Hanlon said: “MSIF’s funding was crucial to the growth of the business, and they have been a great source of support and advice. One of their portfolio directors has attended all our board meetings and their knowledge and expertise has really been invaluable to us.
“We’ve performed way ahead of the business plan, hence being able to repay the investment early which will save us thousands in interest.”
MSIF portfolio director Marion Savill said: “Liam and Jay have done a fantastic job with Forshaw Group. As well as being astute businessmen they are also great believers in corporate social responsibility as is evidenced by their apprenticeship scheme which has been a resounding success.”
O’Connors acted for Forshaw Group.