MBO completed at manufacturer with support from seven-figure facility
Alternative lender ThinCats has provided a multi-million pound facility to support a management buy-out at Elland-based laser cutting and engraving machine supplier, HPC Laser Ltd.
HPC Laser, established in 2006, supplies CO2 and fibre laser engraving and cutting machines as well as CNC routers, and provides training and after sales service.
The business has supplied over 6,000 machines throughout the UK and overseas, for many applications including to blue chip clients in the aerospace, automotive, technology and education sectors.
Existing shareholders CEO Neil Stewardson and MD Steve Cockerham have diversified the product range and driven strong growth in sales across HPC’s top lines.
Further investment is being made in product development, sales, and marketing to capitalise on the growing demand for higher power industrial laser machines. Stewardson and Cockerham have now acquired 100% of the company’s shares.
Stewardson said: “We look forward to providing even more customers with the best value products and exceptional after sales service.
“We would like to thank Ben and the team at ThinCats for their responsiveness throughout the funding process and ensuring the transaction went smoothly.”
Ben Kimball, director business development, ThinCats, added: “It has been a pleasure to support Neil and Steve on this transaction.
“They have a fantastic reputation in the industry and the business continues to deliver market-leading products and services to its expansive customer base. I am excited to see what’s next for the company.”
Financial due diligence was provided for Thincats by Kevin Steven from Pierce Corporate Finance and legals were provided by Paddy Sturman at Irwin Mitchell.
HPC was advised by Andy Haigh from BHP Corporate Finance and supported by Clarion Solicitors. Management legals were provided by Lester Wilson at DWF.
