SCX Special Projects announces major investment
The Sheffield based leader in providing bespoke engineering solutions involving mechanical handling and kinetic architecture, SCX Special Projects, has announced a deal which brings to fruition the planned succession in the ownership of the business.
We have worked alongside BHP Accountants to help deliver a deal which sees Elysian Capital make a substantial investment to acquire a majority stake in SCX Special Projects, alongside the company’s existing management team led by CEO Andy Whitworth.
SCX Special Projects has developed a unique position within the UK as a provider of highly bespoke design and engineering solutions across a range of sectors, including nuclear, defence, aerospace and sports stadia. It announced itself on the world stage of kinetic architecture with the design and successful delivery in 2009 of Wimbledon’s iconic retractable Centre Court roof. Since then it has designed and delivered other landmark kinetic architecture projects including a second retractable roof at Wimbledon over its Number One Court and the ground-breaking retractable, dividing pitch at the new Tottenham Hotspur stadium.
Simon Eastwood, who is standing down as chairman of SCX Special Projects to focus on his other business interests, said: “I realised several years ago with the increase in very high-profile projects that the company had an incredible future. The exposure for the company in completing these projects has and is opening many new doors, not least of all from overseas.
“Having worked with Andy Whitworth since 1992 and seen the way the business has developed, it has become increasingly apparent that we needed to bring on board new investment and expertise to allow Andy and his team to realise the true potential of SCX Special Projects. We have therefore been working with our advisors for some time to achieve this and I am delighted to have found in Elysian Capital a partner who can help take the business to the next level and, as a continuing shareholder, I look forward to its future success.”
SCX Special Projects’ CEO Andy Whitworth will continue to lead the business supported by the existing senior management team of Danny Pickard, Dave Little, Nigel Montgomery and Sophie Stead. All of the senior management team have invested in the business to become shareholders. James Cunningham, a partner in Elysian Capital with extensive industry experience, takes over as chairman.
Andy Whitworth said: “We are very excited about the next phase of SCX Special Projects. Our growing reputation, helped by a number of recent high-profile projects, has generated significant enquiries especially from overseas, a market we have only recently started to develop. The support of Elysian Capital will allow us to capitalise on the major growth opportunities which we are seeing both in the UK and internationally.”
Matt said: “We are delighted to have been involved with this transaction. SCX Special Projects is one of the most impressive and exciting businesses we have had the pleasure of working with. I am sure that Andy and the management team will make a huge success of the business over the coming years with the support of Elysian Capital.”