BHP cuts to the chase
HPC Laser, which trades under the well-known Laserscript brand in the UK, is a specialist supplier of a wide range of laser cutting equipment. Renowned for supplying quality, reliable machines at cost-effective prices, the company has built a strong reputation in the SME and education sectors as well as having supplied equipment to some of the world’s leading and best known engineering companies.
Based in Elland, Halifax, HPC Laser was set up by husband and wife team Chris and Charlotte Jacobs over 10 years ago and has seen steady and consistent growth in that time. BHP worked with Chris and Charlotte to introduce appropriate new investor managers to the company with skill sets that are complementary to theirs.
The team of incoming individuals; Neil Stewardson, Ian Thurley and Steve Cockerham between them bring a vast experience in corporate development, sales and financial management to the business. Chris and Charlotte will continue in their existing roles within the business and expect that the newly enlarged executive team will deliver further growth to the business; taking advantage of the platform that has been built.
Andy Haigh at BHP Corporate Finance acted as lead advisor for the transaction assisted by Juel Chowdhury. Amanda Waterhouse and Dan Taylor provided tax structuring advice.
BHP demonstrated the strength of their multi-disciplinary, integrated offering to business owners on this transaction. The complex deal involved (amongst other things):
- Introducing Chris and Charlotte to a number of prospective investors
- Carrying out a pre-completion corporate reorganisation to allow the owners to extract non-trading assets
- Raising a funding package incorporating growth finance from Barclays Bank
- Careful structuring of the new group shareholdings, working alongside our tax colleagues to allow Chris and Charlotte to structure the transaction tax efficiently, whilst retaining a significant shareholding in the group going forward