Business advisory firm Quantuma has advised on the management buyout of Bristol-based commercial fit out and refurbishment specialist, Harris Evolution Limited, supported by funding from NatWest, the company’s longstanding banking partner.
The transaction sees Harris Evolution’s founder Dean Houghton bring senior team members Kristian Kelly and Craig Arathoon into ownership as part of a structured management buyout. The deal marks a significant milestone in the company’s journey, ensuring continuity of leadership, while positioning the business for future growth under a shared ownership model.
Established in 2011, Harris Evolution delivers office and commercial interior fit out projects for clients across the South West and around the UK. The company is known for its customer-focused approach and consistent project delivery across sectors including education, healthcare and professional services.
Quantuma’s Corporate Finance team, led by managing director Scott Peters and manager Duncan Moore, advised the shareholders throughout the process - from strategic planning through to deal execution. The Quantuma team played a central role in structuring the transaction and coordinating across all parties to bring the deal to a successful close.
The funding package was provided by NatWest, with legal support from a team at TLT LLP who were acting for the bank. Legal advice to management was provided by Ansons. Financial due diligence was undertaken by K3 Advantage, whilst legal advice to the vendor was provided by Ali Legal.
Dean Houghton, founder of Harris Evolution, commented:
"Bringing Kristian and Craig into the ownership of Harris is a proud moment and a natural next step for the business. They’ve both played a key role in our success and will be instrumental in driving our future growth. Scott, Duncan and Fin at Quantuma provided expert guidance throughout the process - collaborative, clear, and pragmatic. They understood the business and what we were trying to achieve, and their support was invaluable."
Mark Forbes, relationship director at NatWest, said:
"We’ve had a long-standing relationship with Harris Evolution and have seen the strength of the team and the quality of their delivery over many years. Supporting this MBO aligns perfectly with our commitment to backing ambitious, well-managed businesses. Kristian and Craig are well placed to take the business forward, and we were pleased to work alongside Quantuma, TLT, and the wider advisory team to help make it happen."
Scott Peters, managing director at Quantuma, added:
"This is a great example of a collaborative MBO that aligns the interests of the founder and the next generation of leadership. Dean has built a strong, reputable business, and this transaction provides the platform for its continued growth with a refreshed leadership structure. We were pleased to support all parties and deliver a smooth, well-structured deal. Our thanks go to NatWest, K3 Advantage, TLT, Ansons, and Ali Legal for their excellent collaboration throughout the process."
