Cardano Advisory advises Amey Group through acquisition

Cardano, the pensions advisory and investment management specialist, advised Amey, a leading British infrastructure services and engineering company, through its recent sale by Ferrovial, the Spanish global infrastructure group, to consortium purchasers One Equity Partners and Buckthorn Partners. The transaction represented an enterprise value of £400 million.

Throughout the sale process Cardano acted as Amey’s covenant adviser, working closely with Amey’s defined benefit (DB) pension trustee boards and other major stakeholders. The multi-staged, complex corporate transaction highlighted both the depth and versatility of Cardano’s offering, which spanned Pensions M&A Advisory, Corporate Events, Restructuring and Employer Covenant during the 20-month appointment.

Richard Farr, Managing Director, Cardano Advisory, said: “Through our work alongside Amey’s experienced in-house pensions team (Andrew Nelson, Andrew Devlin and Charlie Rogers), the scheme trustee boards, The Pensions Regulator and other stakeholders, we helped facilitate a multi-faceted transaction tailormade to deliver value to Amey and safeguard the members of Amey’s DB pension schemes. Now, as we enter an inflection point between M&A and restructuring markets, it is more important than ever for companies and Trustees to equip themselves with comprehensive, expert pensions advice.”

Andrew Nelson, Chief Financial Officer, Amey, said: “Thank you for your invaluable help and advice over the past 20 months to help get this deal done. I have to admit, it has been strangely enjoyable working on this deal, and a lot of that has been because Amey has had a really great set of external advisors!”

Find further details on the transaction here.