Investment firm snaps up family-owned engineering business

A FAMILY-owned engineering company specialising in metal spinning and pressing has been acquired by a private investment company.

Elland Metal, based near Leeds, was established in 1946 and has been family-run for more than 50 years, providing parts for a range of purposes such as domestic appliances, catering equipment, light fittings, dust extraction and filtration.

The corporate finance team at the Leeds office of Yorkshire accountants Garbutt & Elliott acted as lead advisors for the vendors, while Giles Clegg of Leeds law firm Lupton Fawcett Denison Till provided legal advice.

Richard Feltham, partner at Garbutt & Elliott’s corporate finance team, said: “The sale was precipitated by the retirement of managing directors Christopher and Stuart Baines. As a result of their impending retirement, we were appointed to find a buyer and to provide financial advice at all stages of the sale process.

“We have been delighted to advise the management team and to successfully assist in the completion of the acquisition to an acquirer with aspirations to grow the business. They will undoubtedly move this long-standing business forward and further strengthen its position in its core markets.”

The Garbutt & Elliott team also included corporate finance manager Oliver Gaunt.

Clegg, director of corporate finance at Lupton Fawcett Denison Till, said: “It was a pleasure to work for Chris and Stuart. Corporate activity has picked up sharply over the last 18 months and it is good to see two hard-working Yorkshire businessmen reap their reward.”

The terms of the deal were not disclosed.