|
Founded in 1980, B & B Attachments has grown to become the UK's leading independent supplier of fork lift truck attachments and masts. The company has substantial market share within the UK and Eire and customers throughout Europe and North America. The company’s services also encompass attachment hire and remote servicing. The company is based in both Newbury, Berkshire and Cramlington, Northumberland.
The management team had previously undertaken a buy-out of the business from private vendors in 1999, supported by another institutional fund. The team were already well known to us, as the Fund Principal responsible for the transaction had led the financing of the original buy-out. When the team were looking to recapitalise the business and orchestrate an exit for the financial institution, they approached SEGF to help with the transaction. We were delighted to put together a package, which allowed the incumbent investor to exit from the business, provided additional headroom for the business and enabled management to increase their stake.
SEGF invested £175,000 alongside new credit lines in support of the recapitalisation. |
