Fri, 15 Mar 2013 | MBO/MBI
Turnaround investor Endless LLP has concluded a successful investment in Acenta, selling its majority stake for a profit.
Acenta, the largest independent processor and distributor of bright steel bars in the UK, achieved a turnover of £82 million spread between its six sites in Britain. For Endless, this strong turnaround has helped it sell its share for a return of around six times its original investment back in January 2011.
Existing management shareholders bought the company out, led by CEO Tarlok Singh and CFO Colin Mills. They also received support from Acenta's long-term funding partner, GE Commercial Finance.
Darren Forshaw, partner at Endless, commented on the successful turnaround: "Our investment in Acenta Steel just over two years ago took place when its US owners viewed the business as non-core and the company faced some difficult challenges due to the volatility in worldwide steel demand.
"We recognised the long term prospects for the business and also the strength of its market position and its people. Tarlok and Colin have led the business through an unprecedented period of success and it is now in a great position to achieve long term sustainable growth."
____________________________________________________________________________
Related articles:
How to profit from buying a distressed business
How to turn around a struggling business
A leading engineering firm focusing on electric power steering solutions and bespoke wiring harnesses serving various industries. It operates as two entities both reputable for maintaining high standards and offering bespoke solutions for clients. In...
Market-leading fruit and vegetable supplier distributing fresh produce and complementary goods both wholesale and D2C. The companys uncompromising drive for customer satisfaction has built strong relationships with across an enviable client base incl...
Turnkey construction services provider completing a range of projects with expertise across maintenance general refurbishment new build and conservation including work on listed buildings. The company provides full-service construction works utilisin...
|
02
|
|
May
|
Scottish law firms WJM and Davidson Chalmers Stewart merge | MERGER
Scottish law firms Wright, Johnston & Mackenzie LLP (WJM) an...
|
01
|
|
May
|
Cybersecurity firm Brigantia bought by European peer | BUSINESS SALE
North Yorkshire cybersecurity distributor Brigantia Partners...
|
01
|
|
May
|
Historic pottery company Moorcroft goes out of business | ADMINISTRATION
The directors of 128-year-old Moorcroft Pottery have announc...
|
11
|
|
Jun
|
Menzies Distribution continues growth with JBT acquisition | BUSINESS SALE
Menzies Distribution, which is backed by private equity firm...
|
02
|
|
Dec
|
Private-equity backed firm acquires timber processor and distributor | BUSINESS SALE
BSW Group, which is backed by private-equity firm Endless LL...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
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.