MBO at West Yorkshire vehicle firm

A SALES and hire business which provides everything from Bobcats to golf and utility vehicles has been acquired via an MBO.

Wakefield-based MTS Nationwide has been bought by its management team, husband and wife Iain and Sarah Black, as well as Matthew Watson who will step into an ownership role.

The £8m-turnover business employs 50 staff.

Managing director Peter Watson will move into the chairman role post-completion for a period of time, after 22 years at the helm.

In the last 12 months MTS has secured new contracts with several golf resorts including The Gleneagles Hotel, Muirfield and St Andrews Links as well as a number of Premier League football clubs and The Football Association’s St George’s Park.

The company’s utility division provides vehicles to Nuclear power stations, theme parks, holiday parks and resorts along with shopping centres, airports and hospitals.

Iain Black, who has now become managing director at MTS, commented: “Both Sarah and I are delighted and naturally excited about the future of MTS. Peter and the whole team at MTS have done a superb job over the years and we look forward to growing and developing the business with our existing and new clients.

“We have been very impressed with our advisory team including BHP Corporate Finance, Clarion and RBS who all provided quality and proactive advice. The combination of our advisory team working together as one was first class.”

Andy Haigh led a team from BHP Corporate Finance advising the management team on the acquisition. This involved preparing a strategic business plan, advising on price and structure as well as arranging a finance package through Gemma Wright at RBS. Jonathan Simms and Kaira Clarehugh from Clarion Solicitors provided legal advice to the management team, whilst Giles Clegg from Lupton Fawcett Dennison Till advised the vendor.

Andy Haigh said: “It is very pleasing to have structured a transaction that suits all of the stakeholders so well. Peter has done a fantastic job leading the development of MTS and we look forward to supporting the high quality ownership team as they continue his work to deliver further growth for the business.”

In addition to its Wakefield headquarters, MTS has depots at Leigh in Lancashire, Cumbernauld in Lanarkshire and Chester Le Street in County Durham.

 

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