Tue, 13 Aug 2019 | MBO/MBI
A private equity firm has backed the management buyout of a forensic science equipment supplier based in Worcestershire.
Boasting a turnover of more than £20 million, Foster + Freeman was bought out by its management team, supported by Primary Capital Partners, with the remaining funding coming from debt facilities provided by HSBC.
Established by Doug Foster and Bob Freeman in 1978, the company exports its range of products to over 160 countries across the world.
Managing director of Foster + Freeman, Bob Dartnell, said: “We are delighted to have the backing of Primary Capital to work alongside us in delivering the next phase of growth for the business.
“It is an exciting time as we continue to deliver year on year growth supported by an exciting range of new product innovations.”
As well as providing financial and tax due diligence services, PwC Corporate Finance advised the management on the buyout deal. The team was led by Tom Copeland, director of PwC Midlands, who said: “Foster + Freeman is a global leader in its chosen niche market with a real focus on innovation.
“The company has an exciting range of products in development, which will continue to deliver new technologies to its global market.
“It was important to find the right partner for the management team in terms of cultural fit and appetite for R&D investment to deliver their growth plan.
“We are delighted to have supported the management team in delivering a primary management buy-out of a high performing business headquartered in the Midlands.
“We look forward to continuing to work with the business to support its growth aspirations.”
The business can be run from home and upon purchase no further investment is required, as the income stream starts immediately. This is a niche market sector, working predominantly within the education market sector nationwide. The company has very l...
RELOCATABLE
Niche wholesale food distributor, based South Devon, predominantly operating throughout the South, Mid & East Devon areas, established and same owners last 30 years, retirement sale. Offers invited.
FREEHOLD
The company was formed over twenty years ago and is a well established brand in its operating sectors of Telecoms, Defence and Industrial Electronics. The company has two distinct activities: a value added distributor of power electronic products pri...
|
23
|
|
Aug
|
Administrators called in for energy technology firm Faraday Grid | ADMINISTRATION
Faraday Grid, an Edinburgh-headquartered energy transformer ...
|
22
|
|
Aug
|
Welsh technology firm plunges into administration | ADMINISTRATION
Thought to be one of the country’s leading ICT supplie...
|
21
|
|
Aug
|
Solicitors Title LLP buys Somerset law firm in pre-pack administration | ADMINISTRATION
Somerset-based law firm, Broomhead & Saul LLP, has been save...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources