One of the UK’s fastest growing companies has successfully completed a secondary management buy-out that was arranged and structured by Burgis & Bullock Corporate Finance.
The Engineering Technology Group supplies high specification machining centres and fixtures and provides engineering services to manufacturers in the automotive, aerospace, and other specialist industrial sectors. Turnover has increased by more than 200% over the last three years to reach £30 million, with the Group supporting major investment programmes in the supply chains of companies such as Jaguar Land Rover and Airbus.
The deal sees sales director, Martin Doyle, acquire a majority shareholding in the business and step up to become group managing director. The former managing director, John Temple, who led the Group’s first buy-out in 2012, becomes executive chairman and retains a large shareholding. Paul Rhodes, who founded The Engineering Technology Group in 1996, has sold his stake and retires from the business.
John Temple commented, “ETG has competed four financial transactions in the last four years, the last one in May of this year, a secondary management buy-out. In all of these, Simon Chapman of Burgis & Bullock has acted as lead adviser. In addition to project managing the deals, Simon has remained close to the business such that he has become an integral part of our business development team. Over this period the business has tripled in size by most measures as a result. Simon’s input has been absolutely integral to this whole process, so much so that the transaction just completed has been the smoothest I have experienced in twenty years of involvement in leveraged transactions. We have been able to get on and manage the business in the safe knowledge that Simon has been making the deal happen knowing when to involve us and when to just get on and do it. Well done Burgis and Bullock!”
The firm’s relationship with The Engineering Technology Group is a great example of how we provide creative, long-term financial advice to help our clients succeed.
The deal was funded by Santander Corporate Banking, including finance from the bank’s specialist Growth Capital Fund.
If you would like to find out more about this deal or how Burgis & Bullock Corporate Finance can make your M&A strategy a success please contact Simon Chapman on 01926 468705 or by email to: firstname.lastname@example.org