Mon, 01 Sep 2014 | MBO/MBI
Emergency chair maker Evac+Chair has, with the support of accountancy firm Smith Cooper, completed a management buy-out deal.
The move will support the Birmingham-based business’ endeavour to expand its Emergency Solutions brand. Evac+Chair designs, makes and supplies evacuation equipment that helps people escape safely during an emergency. It now intends to create new products and solutions to continue meeting needs in the emergency services industry.
It also aims to expand its workforce over the next year to help it to establish a presence in other countries.
The MBO was headed by managing director Mark Wallace, with Smith Cooper acting as adviser on the deal structure, tax, and corporate governance. Financial support in the deal was provided by various advisers and funders, with Lloyds Bank Commercial Banking being one of these parties.
With the business growing well, and after a retirement in the management team, Mr Wallace said, it was an opportune time to push ahead with their expansion plans.
He added: “We are continuing to develop new products and our sales and export team is working hard to market our Emergency Solutions brand to overseas distributors, and it’s thanks to the on-going support of Smith Cooper and Lloyds Bank that we are able to continue to innovate and lead within our sector.”
__________________________________________________________________
Related information:
Businesses for sale
This unique and renowned freehold bar and restaurant in the heart of York City Centre offers over 250 covers across its spacious interior, pavement seating, and a rare rooftop terrace.
FREEHOLD
A well established and strongly profitable engineering business, located in the Midlands. The company will be an attractive acquisition for both a larger trade buyer and also those looking for a stable engineering business.
This European pharmacy manufacturer specialises in providing custom clinical trial batches for leading pharmacy companies across the continent, playing a crucial role in their R&D efforts.
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.