James Cowper Kreston Corporate Finance (“JCK”) supported HIG-backed Andwis with Financial Due Diligence and Tax Due Diligence across multiple strategic acquisitions as part of its buy-and-build strategy
“JCK has been a trusted partner throughout our acquisition journey. Their ability to deliver clear, actionable insights under tight timeframes, combined with a strong understanding of the dynamics faced by owner-managed businesses, has been instrumental to our success. Their diligence and commercial understanding gave us confidence at every stage.“
— Ben Colman, M&A Director, Andwis
The Transaction
James Cowper Kreston Corporate Finance has worked with Andwis since December 2023, advising on multiple transactions including DAB Lift & Electrical Services Ltd, Statutory Support Services, Elliott Environmental Services, Kent Lift Services, Spectrum Electrical Group, Watertite, Bullet Lift Services and others. Andwis engages JCK on an ongoing basis to provide transaction support.
Andwis, backed by HIG Capital, is a UK-wide network of technical building and compliance specialists. Their mission is to equip clients with safe, sustainable and compliant buildings. Operating across sectors such as data centres, defence, education, healthcare and life sciences, Andwis brings together their unmatched expertise in Fire & Security, Water & Air Hygiene, Asbestos Management & Remediation, Lifts & Entrance, Maintenance & Response and Mechanical & Electrical services.
Buy-and-Build Strategy
As part of their ambitious buy-and-build strategy, Andwis is consolidating leading technical service providers to create a single, trusted partner for all compliance and engineering needs. To support this strategy and ensure informed decision-making, Andwis has engaged JCK to deliver specialist FDD and TDD support across multiple acquisitions as noted above.
These transactions have enabled Andwis to expand their service capabilities and geographic reach, integrate complementary businesses to accelerate growth and enhance confidence for investors and stakeholders through robust diligence and clear financial insights.
Our Approach
The JCK team has worked closely with Andwis throughout each transaction, ensuring decisions were informed through detailed analysis and clear commercial insight.
JCK provided comprehensive support throughout the transaction process including:
- Financial due diligence: Delivering detailed, sector-specific due diligence covering key areas such as revenue analysis and revenue recognition, operating cost base, maintenance contract analysis and project margin analysis enabling informed and timely investment decisions.
- Data reconstruction: Access targets’ accounting systems directly to extract and validate financial data, overcoming typical financial reporting limitations that exist for owner-managed businesses.
- Project Management: Coordination and communication between advisory teams, including liaison with tax specialists, ensuring all stakeholders are aligned on key developments and timelines.
The Result
JCK’s ability to successfully navigate typical challenges with owner-managed businesses including limited quality of financial reporting has enabled a smooth and consistent due diligence process for Andwis across their acquisitions. Our approach has ensured that issues are identified and resolved early and transactions are completed successfully with the clarity and confidence needed by Andwis to execute its buy-and-build strategy effectively.
Acquisitions
- DAB Lift & Electrical Services Ltd – May 2025
- Spectrum Electrical Group – January 2025
- Kent Lift Services – October 2024
- Elliott Environmental Services – August 2024
- Statutory Support Services – July 2024
- Watertite & Bullet Lifts – January 2024
- Other unannounced projects.
