£2m MBO completes for electricals supplier
Alcomet, a supplier of electrical metals and components to the electricity transmission and distribution market, has completed a £2m MBO.
The transaction provides an exit for Alcomet founder Gary James and enables MD Chris Beasley to lead the business into its next phase of growth.
Established 25 years ago to supply aluminum, stainless steel and copper alloys, the Kingswinford business has expanded to become a specialist supplier of electrical metals and components to the UK substation and energy sector.
The company works exclusively with distribution network operators, transmission network operators and associated contractors.
Beasley said: “I started with the company 14 years ago and have seen the diversification of the company with my own eyes. I take great pride in continuing the growth of the company. We are all very excited about the future of Alcomet. The transaction marks the next milestone for the business as the new leadership team introduces new ideas and new ways of working while retaining what has been successful in the past.”
Elizabeth Wheatley, Barclays relationship director, said: “By really understanding the sector and the individuals involved, we have been able to create a funding package to support the business throughout the MBO.
“The management team have wanted to complete the MBO for a number of years and are chomping at the bit to drive the business forward, supported by a loyal and skilled workforce.”