Firstco Ltd was established in 1998 to provide communications and control system expertise to the UK transport and infrastructure markets. Since then, they have expanded within the UK market and internationally. They now deliver consultancy services and complex design and build projects to the air, rail, ports, road building and automation sectors.
Firstco have been a key contributor to a many high-profile UK infrastructure projects. Notable achievements include the London Underground ‘Cooling the Tube’ ventilation control system and being system support contractors to London Heathrow’s Terminal 5 since 2002, amongst others.
Firstco have been clients of WMT since 2003. At that time, Firstco were experiencing continued growth in the UK and sought support from WMT to expand the business internationally into the Middle East and Africa.
A sustainable future
Over the years, Firstco benefitted from WMT’s joined-up approach to supporting clients and we have provided accounting advice, voluntary audits, corporate tax compliance and planning, personal tax advice and helped them with their succession planning.
In 2015, supported by WMT, the next generation of leaders within Firstco acquired the business through a management buy-out (MBO) of the business. The management team trusted the experience of WMT to guide them through the process and ensure the retiring directors received fair value, without jeopardising the values, culture and future success of the business.
WMT’s professional expertise in a full range of in-house accounting services, alongside an established relationship with their senior team provide Firstco with the confidence and peace of mind to turn to the relevant member of the WMT team for the right support and advice.
Firstco directors have regularly been seen at Business Club, and have taken an active role sharing their own business experiences and learning from those of other business owners and leaders.
WMT’s comprehensive understanding of their business culture has helped to support FirstCo in expansion into (and out of) some international markets, through a management buy-out and through the continued growth and expansion of the business. Regular meetings and information from WMT ensures that they can take the right steps to keep on track.
Our client says…
Business owner and Production Director Mike Gray, says:
‘WMT have supported FirstCo in all manner of ways over the years; from our day-to-day needs, through to some of our biggest opportunities and toughest challenges.
We were glad to have them working with us through our succession planning; from generating some initial seeds of ideas at the Business Club through to lead advisory work on the MBO. Getting the balance right between a soft hand and a firm grip is a real challenge in those situations. WMT have always made a point of understanding the individuals involved and their motivations and concerns. Their ability to see the issues from different perspectives helped to keep the project moving and complete the transaction.’
Getting the balance right between a soft hand and a firm grip is a real challenge in those situations. WMT have always made a point of understanding the individuals involved and their motivations and concerns.