MBO completed at industrial doors company with Finance Yorkshire investment
A management buyout (MBO) has been completed at an industrial door company supported by an investment from Finance Yorkshire.
Interdoor, based in Hull, supplies and maintains specialist industrial doors throughout the whole of the UK to a range of sectors including retail, food processing, aviation, automotive and film and television.
Established in 2017, when Mark Roberts incorporated the company and acquired the industrial door business from a member of his family’s group of companies, which itself had traded for more than 40 years, the company has grown substantially over the last six years.
Interdoor is known for supplying and installing some of the most specialist industrial doors including large aircraft hangar doors, high speed doors, large acoustic doors for film and television studios and freezer and cold storage doors for the food industry.
The MBO was led by the company’s operations director, Gary Toalster, with the support of managing director Mark Roberts who prior to the sale owned 100% of the company.
He will remain as a shareholder and director of the new business. Between them, Toalster and Roberts have more than 30 years’ experience in the industrial door sector.
Toalster, who was originally employed by Roberts’ father 15 years ago as an apprentice engineer, said: “The buyout enables us to support our growth plans for Interdoor and together with our unrivalled customer service and technical knowledge will help us in our ambition to become one of the largest national industrial door maintenance providers in the UK.”
Roberts said: “Finance Yorkshire was the first port of call to fund the transaction. We have worked with its fund managers previously who have proved to be trusted partners in working with us to help our business grow.”
Alex McWhirter, chief executive of Finance Yorkshire, said: “Interdoor is an impressive company with a strong track record in the supply and maintenance of innovative industrial doors to a range of sectors.
“It has continued to grow even in the most challenging of trading conditions such as the COVID-19 pandemic.
“We are pleased to support the management team in the next chapter of the company’s growth strategy.”
The deal was supported by a £1.3m investment from Finance Yorkshire’s growth fund.
This is part of a wider regional business fund, which is expected to provide more than £50m to SMEs over five years.
