Tue, 13 Nov 2018 | MBO/MBI
Intermet Refractories, a metal casting component manufacturer, has completed a management buyout (MBO).
The Sheffield-based company was acquired by managing director Callum Arthur from its former parent Sheffield Refractories Ltd.
The deal was backed by HSBC UK and the business is now embarking on a path of growth. The company aims to increase turnover by 20 per cent and create a further five jobs.
With over 30 years of experience in the refractories manufacturing industry, both in South Yorkshire and internationally, Arthur began his career as a lab technician at a refractories business.
Now owner and managing director of Intermet Refractories, Arthur said: “HSBC UK’s financial backing and guidance gave me the means and confidence to undertake this buyout.
“We’re now looking to drive forward with a number of investments which will see us scale-up our product range, upgrade our production facilities and enter new markets – both in the UK and overseas.”
As well as supplying products across the UK, the company exports over 20 per cent of its sales to markets in Western Europe, Scandinavia and the Asia/Pacific.
With the backing of HSBC UK, the business will be investing in new manufacturing machinery to enable growth of its product range for industrial process applications.
Ryan Slater, HSBC UK’s relationship manager for South and West Yorkshire, said: “Sheffield has a proud history of metal production so we’re delighted to support a growth hungry business in a related industry.
“Callum has a wealth of experience and a clear plan to grow Intermet Refractories through strategic investments. We look forward to seeing the how the business grows and evolves over the coming years.”
Intermet Refractories was established in 1985 and is known for manufacturing a range of insulating and refractory specialist components for metal castings moulds.
For more news about management buyouts (MBO), click here. For all our business listings, click here.
This market-leading business specialises in bespoke, luxury kitchens and whole-house furniture, with expertise in handmade designs using responsibly sourced local hardwoods. Catering to high net-worth individuals, the company boasts a strong team and...
This exceptional UK-based manufacturer specialises in traditional timber box sash windows, offering unparalleled quality and customisation options for new builds, period properties, and Grade II listed buildings.
Explore the potential to acquire an industrial door company with a strong market presence and growth prospects in the sector.
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.