Bank loan paves way for management buy out at Cheshire firm
A Cheshire-based engineering firm has been bought out by its managing director with the backing of a seven-figure funding package.
The management buyout sees Peter Smith, who has worked at the business for over 28 years, become the new owner of GU Cutting and Grinding Services.
Peter worked with HSBC to secure the MBO after the Poynton-based firm’s former owners sought to sell their engineering division.
As a result of the buyout, GU Cutting and Grinding Services expects to expand its portfolio of engineer... For the full story register now for free or login below...