Filing products supplier Railex Ltd purchased in MBI

Fri, 17 Jan 2014 | MBO/MBI

Paper filing products supplier Railex Ltd and metal storage maker Railex Storage Ltd have been purchased in a management buy in arrangement.

Serial investor Andrew Ferguson and businessman Raymond Crane bought 100 per cent of the shares of Railex Limited for an undisclosed sum shortly before Christmas. The transaction was funded using asset-backed lending and factoring facilities. The buyers were represented by Robin Gill of Storrar Cowdry.

The deal was led by Bolton-based KBS Corporate, and will mark the first time Railex has broken ties with the founding Wilson family in its 105-year history.

The shareholders are to exit the company immediately it is believed, and will receive rental income from the Southport property.

Founded by Frank Wilson and his wife under the name of WH Hilton in 1908, the group now commands annual revenues of £3.5 million, operating across two sites.

Railex Filing is in Southport, Merseyside, and makes office and large format files, wallets and folders. Railex Storage is located in Essex and makes a variety of filing cabinets, mobile storage and bespoke storage solutions.

Guy Haynes, Senior Deal Executive at KBS Corporate led the deal and received plenty of interest in both aspects of the business sale. He commented: “It became clear that ultimately, the best solution for our clients came from the eventual buyers, who held an interest in the whole group rather than just one of the subsidiaries.”

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