Rickitt Mitchell Advises on Disposal of Steel Fabrication Company

Rickitt Mitchell has advised a North West based £12m profit steel fabrication company on its sale to an overseas based family investment fund. The deal sees the existing management team remain in day to day operational control of the business and gives access to significant funding for further expansion.

The buyer was chosen following a global marketing exercise as being the best suited to the company’s long term investment and growth aims. The all-cash deal includes an earn-out that is expected to comprise less than 10% of total deal value. The transaction ensures that the business’s succession planning is certain, without requiring the vendors to leave the business.

As a result of the competitive global process created through the M&A Worldwide network, the ultimate purchase price achieved was roughly one third higher than the offers initially received from UK bidders.  The terms of the deal were  not disclosed to respect the privacy of both the vendors and the purchaser.

The deal was led by Brian Higgins and assisted by Alex Wilson. Brian heads up Rickitt Mitchell’s involvement in M&A Worldwide and liaised closely with the other M&A Worldwide members in the global marketing process.

 

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