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.
The comprehensive product range includes pure chemicals, pet care, cleaning and valeting products. Operates with a dedicated, highly skilled workforce and a strong second-tier management team.
LEASEHOLD
Established for over 50 years. Designs, manufactures and installs iron items including railings, gates, balconies, balustrades and handrails. Serves circa 100 clients, predominantly private clients.
LEASEHOLD
Products are manufactured in-house, utilising a highly skilled workforce and a range of industry-leading machinery. The extensive product range includes uPVC windows, bi-fold doors, patio doors and orangeries.
LEASEHOLD
26
|
Feb
|
Hanson-owned brickwork contractor closes down | BUSINESS NEWS
Brickwork firm Irvine-Whitlock, a subsidiary of building mat...
25
|
Feb
|
Fairstone secures further backing from PE firm TA Associates | BUSINESS NEWS
Acquisitive wealth management firm Fairstone Financial Manag...
24
|
Feb
|
Nestlé acquires recipe kit firm SimplyCook | BUSINESS SALE
Nestlé has strengthened its position in the e-commerc...
Sign up to receive our acquisition alert emails to get your FREE guide
24
|
Jan
|
Yorkshire engineering firm completes MBO deal | MBO/MBI
A West Yorkshire engineering group has been taken over by th...
08
|
Dec
|
Geotechnical firm completes MBO | MBO/MBI
A geotechnical consulting group based in Durham has successf...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources