Chemicals group undergoes MBO through £16m support for new owners from HSBC

Liverpool-based chemical distribution company, Meade-King Robinson, has completed a management buyout (MBO) with £16m of support from HSBC UK.

The package will enable current 25% shareholders, Philip and Emma Tarleton, to acquire the remaining 75% of shares in the business.

It will also ensure MKR is able to accelerate future growth plans through an expansion of its current product portfolio and supplier base.

Philip Tarleton, MKR Managing Director, said: “The ownership transition will enable us to be better prepared and positioned for future growth.

“In addition, we look forward to continuing to enhance our reputation as a key partner to many of the world’s largest chemical companies. We thank HSBC UK for its continued support throughout this management buyout process.”

Mark Rowan, Relationship Manager at HSBC UK, said: “Over the coming months we hope to build on our relationship, helping to grow the business further for the benefit of its valued clients and management team.”

MKR Group currently employs more than 50 staff throughout the UK and has in excess of 150 years’ experience in the supply and distribution of a wide range of oils and chemicals.

Business advisers Moore & Smalley, led by Andy Feeke, Tony Reddin and Phil Yarwood, have provided strategic advice and assistance to the business throughout the MBO process.

Legal advice to MKR has been provided by Gary Jones, Trish Grinyer and John Kemp of Weightmans’ Liverpool Office.

Legal advice to HSBC UK was provided by Richard Capper, Jordan Clarke, Elizabeth English and Alex Thou of Hill Dickinson.