Dow Schofield Watts LLP has advised on the buy-in/management buy-out of Mayflower Technology Limited; debt and equity funded by Bank of Scotland Corporate (“BOS”).
Deal Number: 31
Deal Completed: 09/02/2006
Price Paid: not disclosed
How Satisifed: not disclosed
Established in 1995, Mayflower specialises in component laser cutting, pressing, machining, welding and fabricating. From its Sheffield base, Mayflower supplies global equipment manufacturers across a number of markets including construction, quarrying, recycling, rail and capital goods sectors.
The BIMBO, which takes Mayflower out of family ownership, was led by Henry Shirman, incoming Managing Director. Henry, together with the existing management team comprising Darren Bradley, Alex Geddes, Howard Kellett, Colin Riddell and Karl Stewart, will form the company’s executive board. The transaction was structured and arranged for Bank of Scotland Corporate by Integrated Finance Director, Colin James.
As part of the transaction, Bank of Scotland Corporate has taken a significant minority equity stake in the business.
