Kirkman & Jourdain has been bought by its management in a deal worth £3 million. Chartered quantity surveyors Mark Downey and Paul Adams, together with contracts manager Phil Haywood acquired the building contractors and shopfitters firm.

Kirkman & Jourdain has been bought by its management in a deal worth £3 million. Chartered quantity surveyors Mark Downey and Paul Adams, together with contracts manager Phil Haywood acquired the building contractors and shopfitters firm.

Downey who steps in as the new managing director said: “The last eight months have been tough but exciting.”

Corporate finance specialists Watersheds structured the deal and secured funding from Royal Bank of Scotland (RBS). Steve Harper of RBS said: “The RBS Structured Debt Solutions team based in Chelmsford was pleased to arrange senior debt finance and working capital to support the new management in their buy-out.

The 40-strong maintenance services firm based in Waltham Abbey counts Starbucks, KFC and Mitchells & Butlers among its clients.