Secondary buy-out for specialist engineering business

28th January 2015

Advisers Hart Shaw and ABN AMRO Commercial Finance have completed a secondary buy-out for a local specialist manufacturer of engineered products.

The deal sees the major shareholder of the business complete the buy-out of private equity investors from a previous management buyout of the company. The deal structure saw a combination of Invoice Finance and term loan provided to meet the consideration and provide ongoing working capital, overseen by James Elliott of ABN AMRO Commercial Finance. Hart Shaw acted as lead adviser for the transaction, with Corporate Finance Partner Patrick Abel negotiating and project managing the deal. Patrick Abel of Hart Shaw comments: -It is very gratifying to work with ABN AMRO on this deal, with James Elliott stepping in at short notice to work to a very tight deadline. The structure for the funding is exactly what we required and helped push the deal through within the timescales required. -This deal gives the business owner more control and is a fantastic success story after the initial management buy-out in 2008. James Elliott of ABN AMRO adds: -ABN AMRO were delighted to work with Hart Shaw in supporting this transaction and ensuring it completed within the desired timescales. The process was extremely well managed by Patrick Abel, ensuring the various parties were all available over a busy Christmas period so that the deal could complete early in January. This is a well established business with an excellent reputation and strong management team. The new structure should enable them to go on to achieve even greater success.