Derbyshire glass specialist sold in MBO
Melbourne-based specialist glass machinery company, Peter Hawkins, has been sold in a management buy-out.
Founder and sole shareholder, Peter Hawkins, has sold the company to a group led by general manager, Andy Deft. Hawkins will continue as non-executive chairman of the board.
Established in 1988, the company sells new and refurbished machinery for glass cutting, milling, drilling, handling, and cleaning, together with the supply of spares, and services for machine repairs, re-builds, and breakdowns.
Hawkins said: “The success of Peter Hawkins Limited has been built around our shared values and highly skilled people, who provide the expertise our customers need. The management team shares this vision, and I am delighted that, by effecting this management buyout, it ensures the company is in very safe hands for the future.”
Deft added: “Peter has left a legacy for us to build on, to enable us to continue to grow and thrive. It is an exciting new chapter, where customers can continue to expect a personal service from the owners of the business.”
Birmingham and Thames Valley based corporate finance specialists, Transcend Corporate, structured and advised on the deal. Tax advice was provided by David Thomas at Spencer Gardner Dickins, with a team from Fieldfisher led by Graham Muth providing legal advice to management, and a team at The Wilkes Partnership led by Gareth O’Hara providing legal advice to the vendor.
