Keeping it in the family with MBO
A METAL finishing business has a new owner following a management buy out, but the new owners are keeping the business in the family.
The former business development manager at Halifax’s Moss Metal Finishing, Andrew Hopkins, bought the business from its parent company, Applied Surface Treatments Ltd for an undisclosed sum.
With help from hlw Keeble Hawson, he acquired the business from his father, Philip Hoskins.
The business employs nine people, applying zinc plating and chemical blacking amongst other things to machined components.
Mr Hoskins joined the business four years ago, having been owned by his father since he acquired in in 2007.
Andrew Hopkins said: “We have invested in improving the high quality finish and customer focussed service we pride ourselves on at Moss Metal Finishing over the last few years and the management buyout enables us to build on this and continue our future growth plans.
“It has been a smooth transition and hlw Keeble Hawson and Garbutt + Elliott LLP acted for my father on his original purchase, so there is a sense of completeness with them now being involved in the MBO.”
Michael Cantwell, partner at hlw Keeble Hawson, commented: “Moss Metal Finishing has carved out a justifiable reputation as a market leader in its field and we are proud to have supported its continued growth. We wish Andrew and his team every success as he takes the baton and moves the company forward to fulfil its excellent prospects for the future.”
“This transaction is the latest in a line of recent MBOs our corporate and business services team has been commissioned for.”
The vendor was represented by Emma Greenwood at Shulmans LLP and Richard Feltham from Garbutt + Elliott provided advisory services.
Richard Feltham said: “Having advised on the original MBO over ten years ago and acted as accountants and advisers to the family business since then, it has been great to see this specialist metal finishing company growing well through recession and beyond and for Andrew to have the opportunity of taking over and continuing to build the business.”
Emma Greenwood continued: “It is even better to be involved in a deal like this, advising Philip and working with Garbutt + Elliott, to ensure that Moss Metal Finishing can continue to build on this success under Andrew’s leadership. We wish Andrew and the new business well.”
