Bank funded MBI showcases city as a financial centre

A TEAM of Manchester professionals has advised a  management buy-in of China & Co (Props Hire) Limited.

China & Co, a London-based props hire company, offers props and surfaces for still-life and food shoots within advertising and publishing. Its range of props includes modern to vintage ceramics, an eclectic mix of kitchenware, glassware and cutlery and hundreds of meters of linens.

The deal provides a retirement exit for former owners Paul and Paula Webster  and presents an opportunity for the new owner managers Nick Lees and Liz Belton to acquire and grow an already well established, profitable company with a customer list including many blue chip businesses.

Ed Foulkes and Siobhan Birkett of Clarke Willmott’s Manchester office gave specialist corporate legal advice.

Funding for the transaction was provided by Allied Irish Bank’s corporate team in Manchester including Mike Rogers, Simon King and Lisa Murray in combination with private investment from management.

Richard Higham, director of corporate finance at UHY Hacker Young in Manchester, provided lead financial advice to the buy-in team.

Higham said: “It’s fantastic to see a deal of this nature complete given the recent difficulties faced by management buy-in teams in raising funds to transact. It also showcases the importance of Manchester as a financial centre and demonstrates the capabilities of its professional advisor community.”

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