MBO at Nationwide Stainless

29th July 2019

A leading Sheffield-based stockist and supplier of stainless steel has been acquired in a £4m management buy-out.

Nationwide Stainless was established over 30 years ago by David Burns and David Nicoll, and has developed to become one of the UK's leading independent stainless distributors. The company supplies into a range of industries, with many products ultimately used in demanding, high-temperature applications. The company has been acquired by Managing Director, Steve Laybourn, who commented: -Having been part of the Nationwide family for a number of years, I am absolutely delighted to have the opportunity of taking this business into its next exciting chapter. "My thanks must go to both the Daves who have nurtured and developed Nationwide since its inception 30 years ago. I'm looking forward to working closely with suppliers and customers, and of course the fantastic team here, to build on this legacy. A funding package for the transaction was provided through a combination of Lloyds Banking Group and alternative finance provider Caple, with an extended team of some of the region's leading dealmakers advising on the deal. BHP Corporate Finance acted as lead advisor on the transaction, with a team comprised of Kevin Davies and Charles Evers. Commenting on the transaction Kevin Davies, director, said: -It has been an absolute pleasure being part of a process that will no doubt ensure the continued success of Nationwide Stainless. This deal demonstrates that with careful planning and the right structure there is a ready funding market for buy-out transactions in the SME space. Other local advisors to the transaction were Michael Hall and Russell Bainbridge of Keebles, Gareth Saynor and Beckie Wrend of CMS and Kevin Gregory of Transact Corporate Finance. Ian Whitworth and Sean Brophy led the transaction for Lloyds Banking Group and Caple respectively