Press release
Commercial Finance funds management buy-out at Birkby's Plastics – Feb 08
West Yorkshire-based Birkby's Plastics Limited has completed and MBO for an undisclosed sum, with funding provided by Lloyds TSB Commercial Finance.
Birkby's was established in 1867 and employs 400 people. It is a UK market leader in the manufacture and supply of injection moulded components to the automotive industry and turns-over in excess of £40 million; its customers include Toyota, Honda, Nissan, Ford PAG, Faurecia, Treves, Lear and Johnson Controls.
The management team was led by Ian Parker and includes John Child, Macartan Flanagan, Nicky Rose and Fiona Jones. Tom Moore, the newly appointed Chairman, was also involved in the transaction.
Lloyds TSB Commercial Finance funded the deal with a package of asset based lending facilities.
Peter Scaife, Director Business Development Large & Major Corporates in Leeds led the deal and also funded the firm’s 2003 MBO from Japanese general trading house, Marubeni Corporation.
Legal advice to the buyer and management team was provided by Watson Burton, KPMG Corporate Finance advised the vendors and Walker Morris acted on behalf of Lloyds TSB Commercial Finance.
For more information on these deals and the business click here
http://www.yorkshirepost.co.uk/businessnews/It39s-the-next-generation-for.3719411.jp
http://www.yorkshirepost.co.uk/businessnews/Birkby39s-bought-by-managers.346240.jp
Lloyds TSB Commercial Finance is part of the Lloyds TSB Group plc.
