Local advisers to the fore in £6m Volumatic MBO
COVENTRY-based cash handling business Volumatic has changed ownership following a £6m management buy-out deal from Halma plc.
NVM Private Equity has supported the MBO, which showcased the work of Birmingham’s professional services sector (see below).
Volumatic is the UK’s leading provider of intelligent cash handling products to the UK and international markets.
The business was established in 1972 to pioneer retail security products. Four decades on and the business is now a leading force in its market; with a widely recognised brand and long-established, blue-chip client base.
Its customers include some of the UK’s best-known retailers, supermarket chains, leisure operators and banks including Wilkinson, Tesco, WH Smith, Lloyds TSB, RBS, Nationwide, McDonalds, Madame Tussauds and Chelsea FC.
The firm, which designs, manufactures and services a wide array of products that help companies to count cash, detect forged notes and store cash securely, also has a growing reputation across Europe and in the United States.
James Arrowsmith, director of NVM Private Equity, said: “Volumatic is led by a talented and dedicated management team. They have a deep understanding of their market and customer requirements.
“This is a highly innovative company with new and existing product development being a key driver for its growth. The funding from NVM will ensure that they continue to be at the forefront of developments in the sector, as well as allowing them to broaden their footprint and capability.”
Colin Amos, managing director of Volumatic, said the MBO would allow the firm to take advantage of growth opportunities.
“We want to develop our product range, increase penetration in existing markets and expand overseas. Volumatic has several new product innovations and improvements currently under development – and we look forward to working with NVM to bring these to market,” he said.
Advisers:
Halma plc: Paul Teuten and Colin Weston of Duff & Phelps Securities acted as financial advisers and David Day and Stuart Hohnen of CMS Cameron McKenna acted as legal advisers.
Management (Volumatic): Mark Beardmore, of DLA Piper acted as legal adviser.
NVM Private Equity: Ian Piggin, Gareth Baker, Fayaz Patel and Graham Spalding of Wragge & Co acted as legal advisers. Iain Lownes and Steve McMullan of BTG Corporate Finance provided corporate finance advice. Graham Elsworth and David Billington of BDO provided financial due diligence. Tom Raymond, of Armstrong TS provided commercial due diligence.
