Shawbrook Bank has provided a loan facility to fund the management buyout of Martyn Price Fasteners (MPF).
The funding allowed MPF’s managing director Gary Macauley and its sales director Carly Pearson to buy the Dudley-based industrial fastener distributor from its owner Jaguar Capital.
The specialist bank’s management buyout team was advised by Nic Hanlon at Hanlon Corporate Advisory.
Gary said: “At such an important time for the company, it was crucial we had a bank onside that was able to understand what we were trying to achieve.
“Shawbrook’s experience in this space – combined with their local knowledge and presence – was key to getting the transaction completed in the professional manner we wanted.”
This was the latest of a number of management buyouts that Shawbrook has supported during 2018 through its network of regional business centres.
Kelly Henney, relationship director for the Midlands at Shawbrook Bank, added: “The deal signifies what is expected to be a sustained period of growth for Martyn Price, and it was great to be able to support Gary, Carly and the team through the transaction.
“It’s another example of the entrepreneurial spirit that’s alive and kicking in the West Midlands right now.”
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