Son purchases metal finishing business from father in MBO
14th April 2016
The former business development manager at Halifax-based Moss Metal Finishing Limited has acquired the business from his father Philip Hopkins in a management buyout for an undisclosed sum.
hlw Keeble Hawson represented Andrew Hopkins in the purchase from its parent company, Applied Surface Treatments Limited. Employing nine people, Moss Metal Finishing applies Anodising, Zinc Plating and Chemical Blacking to machined components for engineering clients across sectors spanning food packaging machinery, offshore oil, aerospace and automotive parts. Since coming on board over four years ago to the second generation family business, which has been owned by his father since he acquired it in 2007, Andrew Hopkins has implemented a modernisation strategy which includes further improving quality standards. Andrew Hopkins said: -We have invested in improving the high quality finish and customer focussed service we pride ourselves on at Moss Metal Finishing over the last few years and the management buyout enables us to build on this and continue our future growth plans. -It has been a smooth transition and hlw Keeble Hawson and Garbutt + Elliott LLP acted for my father on his original purchase, so there is a sense of completeness with them now being involved in the MBO. Michael Cantwell, partner at hlw Keeble Hawson, commented: -Moss Metal Finishing has carved out a justifiable reputation as a market leader in its field and we are proud to have supported its continued growth. We wish Andrew and his team every success as he takes the baton and moves the company forward to fulfil its excellent prospects for the future. -This transaction is the latest in a line of recent MBOs our corporate and business services team has been commissioned for. The vendor was represented by Emma Greenwood at Shulmans LLP and Richard Feltham from Garbutt + Elliott provided advisory services. Said Richard Feltham: -Having advised on the original MBO over ten years ago and acted as accountants and advisers to the family business since then, it has been great to see this specialist metal finishing company growing well through recession and beyond and for Andrew to have the opportunity of taking over and continuing to build the business. Commented Emma Greenwood: -It is always fantastic for our corporate team at Shulmans to get the opportunity to support business owners to realise the worth of a business that they have worked hard over a long time to make successful. It is even better to be involved in a deal like this, advising Philip and working with Garbutt + Elliott, to ensure that Moss Metal Finishing can continue to build on this success under Andrew's leadership. We wish Andrew and the new business well.