East Mids firms advise MBO
A trio of East Midlands advisers have led the £4m management buyout (MBO) of Scott Brothers.
The Cheshire-based company, a distributor of household storage products, has been bought by its managing director Duncan Pratt-Thompson.
Dains Corporate Finance and Flint Bishop, both based in Derby, joined Burton-on-Trent's Else Solicitors to advise on the sale.
Scott Brothers has annual sales of £4m and is one of the largest suppliers of branded vacuum storage bags in the UK. Customers include Argos, Tesco, Lakeland and B&Q.
Pratt-Thompson, who joined the business in 2008, has now taken a controlling stake. Venture Finance provided a £1.6m funding line to support the deal.
Roy Farmer from Dains said: "Despite the difficult economic environment, we received a strong level of interest from funders which can be attributed to the high quality of the business and the strength of the team."
