Tag Archive | "MBO"

JURATEK IN SECOND MBO

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JURATEK IN SECOND MBO


Braking components manufacturer Juratek has announced a management buyout, with three of its directors taking full control of the company. The buyout is the company’s second in three years, as Chairman Allan Hooks is stepping down from the role.

The Doncaster-based firm will now be run by Managing Director Matt Robinson, Sales and Marketing Director Toby Whewell, and Operations Director Mark Clegg. The change comes following the trio’s acquisition of the remaining shareholding from  Hooks. 

READ: 2016 – JURATEK IN MANAGEMENT BUYOUT

Hooks, who is retiring after nearly two decades at the helm of the firm, said: “I have seen Juratek grow and develop into a well-respected aftermarket company both in the UK and Europe. Its commitment to quality in all areas of its business remain paramount to its trading ethos. 

Juratek in new MBO

“After 20 years with the company I believe it is time for me to hand over the reins to the management team led by Matt Robinson, in whom I have full confidence.”

Hooks joined in 2001, having served as Managing Director at electrical components firm Veco for over six years, and Leeds-based parts store Vegem for three. 

READ: 2016 GROUPAUTO TRADE SHOW AWARDS WINNERS

Matt Robinson, who heads up the new management team, has been at Juratek since October 2014, when he was made General Sales Director. Toby Whewell and Mark Clegg join him in the boardroom, having spent a collective six years at the firm. 

Robinson said: “We are delighted to have completed the acquisition of Juratek Ltd and have exciting plans to continue the growth of the company both in the UK and overseas markets.

“The company has seen a sustained period of growth and transition in the past 5 years and we are well placed to take advantage of the opportunities open to us.

“I was keen for Mark and Toby to join me in the management buyout, between us we have over 70 years’ experience in the Automotive Aftermarket, yet we also retain the energy and passion needed to drive the company to even greater success.”

Juratek’s 50-plus staff are not affected by the change in management structure.  

 

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SCHAEFFLER TO SELL PLANT IN MBO

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SCHAEFFLER TO SELL PLANT IN MBO


Management at Shaeffler’s Hamm plant have signed an agreement with the company to take over the facility, which mainly produces friction linings for dry clutch plates.

Negotiations completed on Friday, and the newco is effective as of this morning (Monday July 1)

The deal, for which terms have not been disclosed and is not subject to regulatory approval, will safeguard 110 jobs at the plant. The resulting new company will be called Inno Friction GmbH.

READ: NEW DIVISION AND DATA FIRM FOR SCHAEFFLER

The manager of the Hamm plant and future managing director of the new company, Dr. Christian Spandern, commented: “My fellow directors – Dr. Vera Rührup, Frank Steinhauer and Stefan Löhr – and I are pleased at this opportunity to lead the company in Hamm into a new phase of development that will serve our employees, customers and suppliers well. The new company will continue its business relationships unchanged and will continue to work closely with the Schaeffler Group. At the same time, we see further potential to grow the Hamm location, particularly its industrial business.”

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ELTA AUTOMOTIVE IN MANAGEMENT BUY-OUT

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ELTA AUTOMOTIVE IN MANAGEMENT BUY-OUT


Component supplier and Lucas licence holder, Elta Automotive has been subject to a management buy-out.

Terms of the MBO have not been announced, nut current MD Ian Hallam, who has worked with Elta since the company was incorporated, has become the company’s co-owner, alongside long-term European partner Luxline spol. s r.o – lead by Vladimír Palacka. Ian Hallam and Luxline become equal shareholders of a new holding company, Elta Investments replacing the previous holding company, Claverdon Fields.

The formation of a newco required the existing Lucas licence to be renegotiated. Elta will continue to supply bulbs, wiper blade and switchgear under the Lucas brand in the UK and Continental Europe, but engine management products bearing the name will now be supplied by SMPE.  As a result, Elta’s engine management programme will be supplied under the ‘Pro’ brand, announced last year.

“Our relationship with the iconic Lucas brand remains extremely important and will be a cornerstone of our European offering” remarked Hallam.

Elta HQ in Coleshill

“However, as would be expected, a change of ownership inevitably requires a new licence agreement with the brand owners, which is why we are particularly delighted to be able to announce that this has been secured and on a mutually positive basis for both parties” he said, adding that he was ‘thrilled’ with the prospect of a ‘significantly wider territory’ to sell the Lucas brand into.

 

 

 

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AUCTION HOUSE ACQUIRED BY MBO


Aston Barclay sold in MBO

Auction house Aston Barclay has been acquired in a management buy-out. The full details have not been disclosed, but investment firm Rutland Partners have contributed a ‘significant investment.’

The MBO has been led by new Chief Executive Officer Neil Hodson, who brings 25 years’ experience to Aston Barclay, following stints at Manheim, HPI and Experian.

Glenn and David Scarborough, formerly MD and Commercial Director respectively, will both remain the company’s shareholders as non-executive Directors. The continued investment by the Scarborough family helps keep Aston Barclay’s family-run ethos. Laurence Vaughan is also joining the Board and investing as Non- Executive Chairman. Laurence was previously CEO and is now Non-Executive Chairman of dealer chain Sytner Group.

Aston Barclay’s Glenn Scarborough said: “We are delighted to welcome Neil [Hodson] and his management team as investors in Aston Barclay supported by Rutland Partners. These are exciting times for the remarketing industry and we are confident this support and the investment will enable Aston Barclay to exploit the opportunities for growth the market has to offer.”

“We have really enjoyed working with the Livingstone team on what was an important transaction for us and an exciting development in Aston Barclay’s future. They showed commitment and hands-on support from start to finish and we are grateful for their valuable guidance throughout the process” he added.

The deal was advised on by mergers and acquisitions firm Livingstone Partners.

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