A Blackburn accountancy firm has acted in a deal which has seen a Todmorden company acquired by Euston Ventures in Ipswich for an undisclosed sum.

PM+M acted in a deal that saw the directors Jill Morony and Sue King achieve a full share sale of the business for an undisclosed amount.

Headquartered in Todmorden and established in 2001, Safespaces works with families and healthcare professionals to design, manufacture and supply custom designed safe rooms and high-sided beds for individuals with complex needs including those with learning disabilities, autism, epilepsy and challenging behaviours.

Safespaces’ products are used in family homes, schools, hospitals, respite centres and for travel. The firm, which employs a team of 33 people, also offers bespoke rental and cleaning services.

Euston Ventures is an investment company that has acquired a range of specialist B2B companies, predominantly in the manufacturing, engineering and industrial products markets. Euston was attracted to Safespaces due to the critical role its products play in changing the lives of the young people and their carers.

Ryan Bilsborough, corporate finance manager at PM+M, engaged in a proactive and targeted marketing process which maintained confidentiality, as well as handling a full negotiation process with multiple interested parties.

He said: “We generated significant buyer interest in Safespaces, which resulted in multiple attractive offers – we had initial contact with the successful bidder, Euston Ventures, within two days of exercising our targeted marketing campaign, subsequently accepting their offer within eight weeks of commencing the sales process.

“It has been fantastic to see PM+M’s multiple service lines work together to facilitate this sale – from accountancy and compliance work, corporate finance, through to specialist tax, and financial planning advice. I am delighted to have helped Jill and Sue in the sale of their business and wish them both a well-deserved retirement.”

Jill Morony said: “Safespaces has been a very important part of my life. We set the business up from scratch and have achieved so much since its inception. I am so proud of what we have accomplished and of the amazing team who are so hard-working and passionate about the work that we do. It is for that reason that it has been an incredibly hard decision to pass the baton on.”

Sue King continued: “We have entrusted Max Silver and Euston Ventures with the next stage of the Safespaces’ journey, I am sure they will continue to provide the high-quality product Safespaces is renowned for and take very good care of our fantastic team.

“The support from Ryan and the wider PM+M team throughout the sale process has been invaluable, and we are very grateful to them. We were very impressed by the sensitivity, care and respect with which Ryan supported us through the process of the sale. He enabled us to make informed decisions throughout the process. The support he provided is second to none.”