Wed, 16 Oct 2019 | MBO/MBI
An automotive products supplier located in South Yorkshire has successfully completed a management buyout (MBO).
Founded in 1995, and headquartered in Doncaster, Juratek boasts an annual turnover of £16 million and has more than 50 members of staff to its name.
It caters to a combination of light and commercial vehicles around the world by providing automotive aftermarket braking products.
The company was acquired from the outgoing chairman Allan Hooks, and was taken over by the existing shareholders Matt Robinson, the managing director, Toby Whewell, the sales and marketing director, and Mark Clegg, the operations director.
Matt Robinson said: "We are delighted to have completed the acquisition of Juratek Ltd and have exciting plans to continue the growth of the company both in the UK and overseas markets. The company has seen a sustained period of growth and transition in the past five years and we are well placed to take advantage of the opportunities open to us.
"I was keen for Mark and Toby to join me in the management buyout, between us we have over 70 years' experience in the Automotive Aftermarket, yet we also retain the energy and passion needed to drive the company to even greater success."
Shorts accountancy firm acted as the lead advisor on the deal, with legal representation coming from Wake Smith and financial supporting coming from HSBC. Financial due diligence was provided by BHP and Irwin Mitchell conducted the legal due diligence.
Relationship director at HSBC, Chris Alsop, commented: “Juratek have gone from strength to strength and I’m confident that Matt and his team will take the business to the next level. I am pleased to have supported them in this buyout.”
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