About the client
Established in 1985, Magden supplies roofline plastics and components to the roofing and insulated glass manufacturing market. Since 1985 Magden has grown from a single site in Manchester to multiple sites throughout northern England.
Brian Higgins of Rickitt Mitchell formed part of a MBI team as chairman, with entrepreneur Nick Friend as Managing Director and Harry Cross of Director Dealflow as Finance Director.
About the deal
Rickitt Mitchell advised and led the acquisition of Magden Limited from retiring founders Alan and Mary Robinson. Our deal structure enabled the purchase of Magden with a £100,000 equity investment by Nick Friend and a funding package from Centric Commercial Finance. The partners of Rickitt Mitchell and Director Dealflow also took equity positions as part of the transaction, with Brian Higgins and Harry Cross joining the board of Magden to support the business post-transaction.
Rickitt Mitchell’s advice enabled us to acquire Magden Limited without the constraints of external equity funding, creating a stable basis for trading as an independent business for the long term.Nick Friend | Managing Director