MBO steels the show

 

BHP Corporate Finance is delighted to have acted as lead advisor on the £4m management buyout of Nationwide Stainless, a leading Sheffield based stockist and supplier of stainless steel.

Established over 30 years ago by David Burns and David Nicoll, Nationwide Stainless has developed into one of the UK’s leading independent stainless steel distributors. The company supplies to a range of industries including construction and civil engineering, oil and gas, power generation, and petrochemical, with many products ultimately being used in demanding, high temperature applications.

The transaction was led by Managing Director, Steve Laybourn, who commented: “The support and advice provided by the team at BHP Corporate Finance was crucial during the process. They helped formulate a deal structure and arranged a funding package that satisfied both the needs of the existing shareholders and Nationwide Stainless moving forward. I wouldn’t hesitate to recommend them to anyone looking to undertake a similar process”.

BHP Corporate Finance helped secure a bespoke funding package to support the transaction through a combination of Lloyds Banking Group and alternative finance provider Caple.

Kevin Davies, partner, and Charles Evers comprised a team that structured and advised on the MBO. Commenting on the transaction Kevin Davies, said: “It has been an absolute pleasure being part of a process that will no doubt ensure the continued success of Nationwide Stainless. This deal demonstrates that with careful planning and the right structure there is a ready funding market for buyout transactions in the SME space.”

The successful completion of the Nationwide Stainless transaction reflects the continued appetite for deals in 2019, with news of further transactions currently in the BHP Corporate Finance pipeline to be published soon.