Mon, 03 Sep 2018 | MBO/MBI
A steel tube manufacturer in Greater Manchester has experienced a management buyout (MBO) by the company’s founding family who described the present time as the right moment to strike the deal.
Boole’s Tools and Pipe Fittings Limited was bought back by the family from the listed builders’ merchant.
Located in Stockport, Cheshire, the company was established by Ron Boole and his father, Cyril Boole, in 1961, and produces steel tubes, valves, fittings and allied pipeline products for a range of clients across the country. What started off as a small fledgling business has grown into a multimillion pound organisation in recent years.
Its trading practices have proved successful with a reported annual turnover of roughly £12.5 million.
In 2003, Boole’s was taken over by Grafton Group plc. in an acquisition deal, but has since been acquired back by Terry Seville, the company's managing director, his wife Tracy who is Ron Boole’s daughter.
Seville has faith in that Boole’s has a positive outlook for the years ahead, a result of the successful MBO. He said: “Now is the right time for the MBO, and being independent will allow us both to maintain our strong trading relationship with Grafton and generate new opportunities with other national and independent merchants.”
Ian Riggs from legal firm Hill Dickinson LLP, Jeremy Cole from Cole Associates Corporate Finance, and debt advisor Dave Matkin conducted the proceedings of the deal, with funding provided by corporate relationship director John Gibson from Liverpool’s HSBC Corporate office.
For more news about management buyouts (MBO), click here. For all our business listings, click here.
Represents an opportunity for an acquirer seeking a jewellery and accessory, producer as well as distributor located in Fife.
An excellent opportunity to purchase a well-established, profitable business involved in the design, manufacture or refurbishment of steel rolls and ancillary equipment, primarily for use within the food industry.
This is an architectural metalwork business for sale that specialises in the design, manufacture and installation of high-end, bespoke products for the retail, commercial and residential markets.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.