MBO completed at Caerphilly-based manufacturer Procter Brothers
Procter Brothers Limited, a Caerphilly-based manufacturer and service provider, has announced the successful completion of its multi-million pound management buyout, in a deal advised on by the GS Verde Group.
The successful management buyout was organised by Verde Corporate Finance and advised on by law firm Greenaway Scott (both part of the GS Verde Group). The transaction will safeguard over 100 jobs and puts the business on course to progress with its growth plans for the future.
The management team was led by Procter Brother’s existing Managing Director John Procter. Mr. Procter now assumes the role of Group Managing Director, taking on the mantle from his father, Jeremy Procter, who will remain involved with the business as an advisor.
The business, which is based in Pantglas Industrial Estate in Bedwas, has been family owned since 1740, and the completion of the MBO ensures it will remain in the family while safeguarding the futures of Procter Machine Safety and Procter Contracts.
Procter Brothers mission is to combine the best aspects of traditional craftsmanship and care for customers and employees, with up-to-date production technologies. Procter Machine Safety designs, manufactures and installs machine guards and provides machinery safety services, while Procter Contracts designs, manufactures and installs entrance gates, fencing, security systems and street furniture.
John Procter said: “I am delighted to have led the acquisition of Procter Brothers Ltd, where I have worked for 20 years, and as Managing Director for over five years. We are a market leader in our industries and I am committed to growing the business further and cementing our position within the industries we serve.”
Procter and the management team were assisted by law firm Greenaway Scott who were led by corporate Director Leanne Thomas, alongside Craig Blackmore of Verde Corporate Finance, who led on the financing aspects of the transaction.
Procter added: “We were delighted with the support of the GS Verde group. Having both corporate finance and legal advice from the same group made the process so much easier and helped us to get things done swiftly.”