Management buyout of industrial fasteners business
A Dudley-based distributor of industrial fasteners has undergone a management buyout.
Martyn Price Fasteners’ managing director Gary Macauley and sales director Carly Pearson have taken over the business, which was set-up in 1972.
The deal was supported by Shawbrook Bank, which provided financing for the duo to buy the company from its existing owner Jaguar Capital.
Macauley, who has been general manager of the business since 2000, said: “At such an important time for the company, it was crucial we had a bank onside that was able to understand what we were trying to achieve.”
The MBO team was advised by Kelly Henney at Shawbrook Bank and Nic Hanlon at Hanlon Corporate Advisory.