Tue, 16 Apr 2024 | MBO/MBI
MRO+ Solutions, a specialist distributor of critical products to the process and manufacturing industries, says it will target both organic and acquisitive growth after securing private equity backing.
NVM Private Equity has backed a management buyout (MBO) of the company, which sees the business acquired from Cairngorm Capital Partners. The firm is backing MRO+’s incumbent management team, led by MD Matt Cattell, who has helped drive a 50 per cent increase in revenue since joining the company four years ago.
MRO+ was formed by Cairngorm Capital in 2018 through the acquisitions of Leeds-based Helix Tool Company and Grimsby-headquartered MJ Wilson Group. Helix Tool Company provides technical support to precision manufacturing clients supporting their tooling requirements, while MJ Wilson is a specialist distributor of process instrumentation and control products to industries including energy, power generation and process.
NVM’s investment, led by Charlie Pidgeon, Oliver Wildig and Mauro Biagioni, is the firm’s second in two months and takes its total deal count to nine transactions in under 18 months. Upon completion, Kevin Appleton will join MRO+’s board as non-executive chairman, bringing significant M&A and distribution sector expertise to the company.
Matt Cattell, managing director of MRO+ Solutions, said: "We are thrilled to join forces with NVM Private Equity. This partnership will enable us to further strengthen our position in the market and capitalise on new opportunities, through organic and acquisitive growth. With NVM's support, we are confident that we can continue to deliver exceptional value to our customers and team members, driving long-term success for our business.”
NVM investment partner Charlie Pidgeon added: "We have been highly impressed with the quality of the senior leadership team, the growth they have achieved and their vision for the future. We look forward to fully supporting the team in achieving their organic growth plans and pursuing acquisitions to consolidate what is a highly fragmented market."
Read more about the range of financing options available to acquisitive UK companies
This is a rare opportunity to acquire one of the leading schoolwear and workwear wholesalers in the UK. Annual net turnover of over £1,000,000 with an excellent gross profit in excess of 40%. Well-established manufacturing supply chain producing own...
This is a superb opportunity to acquire a well-established, Engineers Merchant business based in Blackburn, Lancashire. The business operates as a leading retailer of nuts, bolts, fastenings, and all the leading makes and models of hand tools and pow...
The company supplies a wide range of sustainable heating solutions, which all combine to supply a complete heating system. These include heat pumps, heat pump accessory packs, underfloor heating, radiators, smart thermostats and MLCP pipework. All sy...
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.