Transmissions manufacturer in gear for further growth after £1m MBO

Carl Smith (TDR), Lee Walkland (TDR), William Islip (NatWest), Jason Smith (TDR).

Sheffield-headquartered TDR Transmissions has completed a £1m MBO in a deal which has transferred ownership of the business to its second-tier management team.

A funding package was provided with NatWest and RBS Invoice Finance lending facilities while the remaining contribution came from the new owners.

The MBO was led by managing director Lee Walkland, who takes over from his father Ken Walkand, one of two existing owners. Lee will be joined by Darren Morland, Carl Smith and Jason Smith as the new owners.

Founded in 1979, TDR specialises in the repair and reconditioning of industrial gearboxes, vacuum pumps and industrial blowers. Today it has an annual turnover of £2.2m and employs more than 20 full-time staff alongside a successful apprenticeship scheme.

The MBO has been supported by Wake Smith Solicitors, Knowles Warwick Accountants and BRM Solicitors.

Ken Walkland said: “This MBO heralds a significant milestone for TDR which has grown from a small-scale business to become one of the UK’s leading industry suppliers of gearbox repairs.

“My partners and I are looking forward to continuing the growth of the business and strengthening our position in the industry. It was important to us to work with a bank that understands our business and NatWest has really done that.”

NatWest relationship manager William Islip said: “We worked closely with TDR to develop a collaborative funding package with added value products and services to support the business growth.”

 

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