Case Studies:
Across the Generations - Gratte Brothers and Blick Rothenberg

Gratte Brothers Group Limited is a long-standing client of Blick Rothenberg with a relationship straddling the generations.

Our two firms have quite a history. Both are both family businesses founded within a year of each other in the mid 1940's and each share a similar sense of values and family tradition.

Ian Bass, Financial Director of Gratte Brothers, told me "Blick Rothenberg and Gratte Brothers have in a sense 'grown up' together. In the early days, the founder of Gratte Brothers, Derek Gratte worked with the founder of Blick Rothenberg, Helmut Rothenberg just as today the next generation enjoy a similar, gainful, working relationship".

Gratte Brothers were historically electrical subcontractors who expanded over the years to become contractors to blue chip companies in their own right. They also branched out into several other areas including, fire alarm systems, commercial catering facilities, security systems and network systems as well as their core business of electrical systems. The company now has a turnover in excess of £85 million.

Ian Bass said of the acquisition, "This was a perfect opportunity for us. AG Manly was a business with very similar roots to our own and a service which complemented our own perfectly. By adding mechanical contracting to our portfolio of services we were able to offer our clients a single source for all their building services requirements. As advisors and accountants to Gratte Brothers for over 20 years, Blick Rothenberg were the natural choice to act as corporate finance advisors."

Gratte Brothers and AG Manly entered into discussions with a view to broadening Gratte Brothers offering. Previous expansion had been as a result of organic growth but it was felt that the opportunity to expand into mechanical services through AG Manly was too good to miss.

Blick Rothenberg assisted with negotiations, advised on principal terms and undertook financial due diligence. Steven Bruck, who acted as advisory partner throughout the acquisition said, "The bringing together of the Manly Group with Gratte Brothers was, from the outset, a delicate matter. It was essential that it was undertaken in a consensual manner with full consideration of the interests of the two sets of shareholders, clients and employees".

Bass concluded, "Blick Rothenberg helped us every step of the way in this new venture and continue to guide us in all avenues of financial and managerial advice. Our aim for the future is to continue to consolidate the businesses to create a strong, integrated, good quality building services company".