25th anniversary and MBO for engineering firm

A MANCHESTER manufacturing company has celebrated its 25 year anniversary by completing a management buy out.
 
SBT Engineering Services, based in Stretford, claims to be the region’s largest independent specialists in the repair and refurbishment of industrial gearboxes, industrial pumps and associated and mechanical plant and process equipment, predominantly provided to the waste water and water treatment industries.

The business also provides mechanical site-related on-site support services to the water sector and has deals in-house with the machining and fabrication of components and plant for use within these industries.

The MBO involved the existing directors and shareholders, William Coplin and Paul Laidlaw, bringing in three new directors and shareholders; Steven Birch, John Divinney and Matthew Bickerton. All five will now hold an equal 20% stake in the group.

The business has an established list of loyal clients and an exceptional reputation within the industry.

Cowgill Holloway, which has offices in Manchester, Liverpool and Bolton, advised SBT and its shareholders on the strategic options for the business and led the negotiations and structuring of the management buy-out.

Andy Ball, tax partner, said: “We are very pleased to have been able to help William, Paul and the Management Team through the next step in the evolution of SBT Engineering Services. The deal represents an excellent opportunity for SBT to accelerate its growth aspirations and develop market leading products.”

Legal advice on the transaction was deal with by Farleys Solicitors, of Manchester.

Partner Debbie King, who has worked closely with William Coplin, and the group of companies for almost a decade, oversaw the deal, with assistance from associate solicitor Alex Singer.

Completed in time for the company’s year end, the buy out required a pre-completion re-organisation of the SBT group to extract other none core trading companies before the main trading entity, SBT Holdings, was then sold to the management team.