Flint Bishop advises on sale of CS Regulatory to CERTANIA
CS Regulatory has been acquired by CERTANIA, strengthening regulatory compliance services across the UK, Ireland and Europe.
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Advising on the management buy-out of the UK’s leading independent designer and fabricator of lighting columns and guardrails business.
23 February 2021
Deal
Flint Bishop’s head of Corporate & Finance, Martyn Brierley, has advised the management team on the management buy-out of the leading steel fabrications business, Fabrikat.
The buy-out team, comprising Financial Director Paul Allen, General Manager Mick Scott and Technical Manager Melvyn Batty, plan to further develop the business in both its traditional and new markets, continuing to provide their customers with the level of service and quality of products that they have become accustomed to.
Formed in 1985, the Sutton-in-Ashfield based business is now recognised as the UK’s leading independent designer and fabricator of street lighting columns and guardrails, with an annual turnover in excess of £12m.
Employing around 80 people across its design, manufacturing and marketing divisions in the North Nottinghamshire area, the skilful and decisive management of Fabrikat over the last 12 months has ensured that the business has continued to deliver a steadily increasing and robust profitability, regardless of the affect that the global pandemic has had on the economy.
The deal has seen the sellers, Martin Hopkins and Matthew Wass, who have each worked in the business for around 25 years, transfer ownership to the senior management team, funded by Duke Royalty, who provided a £6.2m royalty financing package and has also taken a 30% equity interest.
Commenting on the deal, Martyn Brierley said:
“It was a pleasure to be introduced to, and to advise the management team on this successful buy-out. The wealth of experience that Paul, Mick and Melvyn have with Fabrikat alongside Duke’s investment, places the business in a strong position for onward growth, with continued support to be provided by the sellers.”
John Farnsworth and David Crump of Smith Cooper Corporate Finance (SCCF) project-managed the deal from inception to completion, whilst the sellers received legal corporate advice from Nelson’s partner David Kaplan and associate Liz Mills.
Paul Arathoon from Charles Russell Speechlys London office provided legal advice to Duke Royalty.
This management buy-out went on to win Deal of the Year (under £10m) at the East Midlands Dealmakers Awards 2021.
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