Springboard pulls down the blinds on MBI
A COMMERCIAL blinds company has changed hands in a management buy-in advised out of Birmingham.
The deal allows Rod Roberts-Dear to take control of Pentel Contracts in Salford and its sister company Dearnleys in Wakefield, West Yorkshire.
Mr Roberts-Dear, whose previous roles include managing director within the automotive group Inchcape and marketing director of the tyre firm Continental, will now become MD of the combined business.
Previous owner Andrew McHale, who was managing director, and his wife Rachel, the finance director, are planning to retire but will continue to act as consultants and Mr McHale will retain a minority shareholding.
Pentel and Dearnleys, which operate as one entity, are manufacturers and installers of blinds, solar shading solutions, and cubicle tracking systems to commercial and public buildings, with a primary focus in the North of England and the Midlands.
David Neate and Jonathan Wright led the transaction on behalf of Springboard.
Mr Neate said: “We are delighted to have advised Rod Roberts-Dear on the acquisition of Dearnleys and Pentel. Both companies have a strong reputation and proven track record in their market place, under the direction of Rod Roberts-Dear, who has proven track record of new business development, I am confident the business will continue to grow.”
The transaction was funded by Enterprise Ventures – now part of Warwickshire-based Mercia Technologies – and led on their behalf by Wayne Thomas.
Shawbrook Business Credit, led by Paul Edmeades, provided debt funding and an invoice discounting facility. Harrison Clark Rickerby’s Alison Scott, based in Worcester, provided legal advice to the newco.
