Derby's Co-operative team leads MBO
The Derby corporate banking centre of The Co-operative Bank has provided finance and banking facilities for the management buyout of Displayplan.
YFM Equity Partners backed the MBO of the display fixtures business, which was purchased from Leggett & Platt UK for an undisclosed sum.
The Co-operative's Derby team provided senior term finance and full banking facilities with GE Capital providing invoice discounting.
The buyout was jointly led by Neil Campbell, who has worked in the group since 1992 and will become executive chairman and Scott Morris who continues as managing director.
Founded in 1984, Displayplan employs 50 people across its headquarters in Baldock, Hertfordshire and in China, Germany and Holland.
Mark Turner, senior business development manager at the Derby corporate banking centre of The Co-operative Bank, said: ''Displayplan is a proven business and we’re delighted that they selected us as one of the key providers of finance for this transaction. We believe the business has a bright future under its experienced and innovative management team.''
Law firm Gateley's Nottingham office advised the management and The Co-operative Bank was advised by Freeth Cartwright.
Financial due diligence advice to the investors and The Co-operative Bank was provided by BHP Corporate Finance.
