Thu, 27 Dec 2018 | MBO/MBI
Prodis, which supplies its own brand of refrigeration equipment for bars and clubs, storage and display, has completed an MBO with the assistance of Castle Square Corporate Finance.
Led by managing director Anthony Faulkner, Prodis also acts as a distributor for brands such as Samsung, Icematic and Whirlpool.
The founders, Richard and Valarie Hammond, will continue to own a minority shareholding and support the company in its transition.
Patrick Lynch, Director of Castle Square, said: "In recent years the Prodis brand has received significantly increased recognition within the UK catering equipment sector, which is a testament to the hard work and commitment of Anthony and the Hammonds.
"The change of ownership will allow Anthony to continue driving the business forward on the back of this recent success and expand new opportunities to provide further growth to the business."
Lynch and fellow director Kevan Shaw advised the management team on the deal and provided a structured process and sought the necessary finance from NatWest to finalise the transaction.
Alan Dawson led the NatWest team who provided the acquisition finance alongside working capital facilities.
He said: "Prodis has been a longstanding member of Stoke business community since it was first established in the 1980s.
"NatWest is pleased to have had the opportunity to support Anthony and the team in their management buy-out.
"We hope that the transaction is just the start of a long-lasting relationship with the new management team and we look forward to working closely as they deliver the company’s future ambitions."
For more news about management buyouts (MBO), click here. For all our business listings, click here.
This well-established car sales and garage business in Nottinghamshire offers a superb reputation supported by positive online reviews and occupies a prominent position on a main road in Worksop.
This recruitment business offers a strategic foothold in the technical sector, with a strong UK base and expanding international presence.
Discover an esteemed confined space and draining specialist with extensive experience across multiple sectors, including water, wastewater, and food and drink.
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.