MBO at automotive parts manufacturer
The founder of a specialist automotive parts maufacturer has sold out to his management team after 40 years.
Philip Hayward grew Chorley-based Bailcast to a company which distributes its rubber vehicle parts to over 40 countries worldwide.
Now the company’s finance director Lorraine Alty, sales director Martin Calley, and operations director David Hartley have acquired the business through a management buyout. The terms of the deal have not been disclosed.
Hayward, who has retained a minority shareholding, said: “The ... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...
