Mon, 03 Sep 2018 | MBO/MBI
A steel tube manufacturer in Greater Manchester has experienced a management buyout (MBO) by the company’s founding family who described the present time as the right moment to strike the deal.
Boole’s Tools and Pipe Fittings Limited was bought back by the family from the listed builders’ merchant.
Located in Stockport, Cheshire, the company was established by Ron Boole and his father, Cyril Boole, in 1961, and produces steel tubes, valves, fittings and allied pipeline products for a range of clients across the country. What started off as a small fledgling business has grown into a multimillion pound organisation in recent years.
Its trading practices have proved successful with a reported annual turnover of roughly £12.5 million.
In 2003, Boole’s was taken over by Grafton Group plc. in an acquisition deal, but has since been acquired back by Terry Seville, the company's managing director, his wife Tracy who is Ron Boole’s daughter.
Seville has faith in that Boole’s has a positive outlook for the years ahead, a result of the successful MBO. He said: “Now is the right time for the MBO, and being independent will allow us both to maintain our strong trading relationship with Grafton and generate new opportunities with other national and independent merchants.”
Ian Riggs from legal firm Hill Dickinson LLP, Jeremy Cole from Cole Associates Corporate Finance, and debt advisor Dave Matkin conducted the proceedings of the deal, with funding provided by corporate relationship director John Gibson from Liverpool’s HSBC Corporate office.
For more news about management buyouts (MBO), click here. For all our business listings, click here.
Built up a strong reputation within its sector and has maintained several long-standing relationships with clients. Functions as a one-stop shop for all of its clients’ requirements, providing complete solutions.
FREEHOLD
Turnover of £1.5m with an adjusted EBITDA of £550k. Offers an extensive selection of new and used grinding machines and a comprehensive range of services to clients throughout the UK and internationally. Utilises a highly skilled and experienced work...
LEASEHOLD
Provides a one-stop shop service for steel fabrication requirements, offering cut and drill work, galvanising, painting and shot blasting. Caters to 20 clients who provide repeat business on a regular basis, and many more who request work when requir...
LEASEHOLD
|
25
|
|
Nov
|
JD Sports emerges as final remaining bidder for Debenhams | BUSINESS SALE
Sportswear chain JD Sports is reported to be in exclusive ta...
|
24
|
|
Nov
|
Manchester construction group calls in administrators | ADMINISTRATION
Manchester-based construction firm Goodwin’s Construct...
|
23
|
|
Nov
|
Noble Foods planning sale of dessert brand Gu | BUSINESS SALE
Giant egg producer Noble Foods is seeking a sale of Gu Puds,...
Sign up to receive our acquisition alert emails to get your FREE guide
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