Leading Midlands manufacturer completes crucial MBO

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26/09/2019

Cameron-Price Limited, the specialist injection moulding and assembly business, has received a multi-million pound funding package from Yorkshire Bank to support its growth strategy, including a secondary management buyout.

The financing provided a combination of cash flow loans, a property mortgage and working capital facilities to assist the business as it undertakes fresh expansion. It has also enabled the company’s Finance Director Lewis Pepall and Operations Director Russel Watts to acquire equity in the business, alongside Managing Director Barry Moor.

Based in Birmingham, Cameron-Price manufactures and delivers superior, cost-effective products to a range of blue-chip customers. The business has over 50 years of trading history, working across a wide range of industry sectors throughout the UK and Europe.

Managing Director Barry Moor, who has been with the business for 24 years, said: “Having completed a management buy-out in 2015 with the support of Yorkshire Bank and Dains LLP, they were the partners of choice to support the next phase of development within the business. Their continued support and understanding of our company that developed over the past 4 years was invaluable.”

“We are very excited about the future, as we have excellent opportunities and a world class manufacturing facility. Being able to bring Lewis and Russel into the ownership of the business will help us to deliver on our plans for growth and diversification over the coming years. We will continue to expand and to grow in new sectors in order to capitalise on the significant opportunities we see ahead.

“The team at Dains provided excellent advice and guided us throughout the entire process. Their experience and expertise in raising funds was invaluable and ensured that we reached a successful conclusion.”

The Yorkshire Bank team was led by Ian Fairclough and James Oliver, Senior Directors in the Midlands team. The transaction marks the second time that Yorkshire Bank has provided a significant funding package including a funded buyout to the company, following on from its first MBO in 2015.

Ian said: “Since the 2015 MBO the company has traded strongly, generating significant cash flows and paying down much of the previous debt. The business has a fantastic reputation in the UK and across Europe for delivering quality injection moulding solutions.

“Under the leadership of Barry Moor, the company moved up the value chain with impressive growth over the past four years. As the business continues to expand, bringing Lewis and Russ into the ownership was the natural progression. We look forward to being a part of their continued growth.”

Roy Farmer, Lead Advisor from Dains Corporate Finance added: "As a firm our relationship with Cameron-Price and particularly with Barry goes back over 20 years, and it has been a delight for us to work with him, Lewis and Russel on this fund-raising exercise. The company’s reputation has been built on delivering a consistently high-quality service to all of its customers and with the new funding package now in place this allows the business to further grow and develop its services.”

Roy Farmer and Rob Wilson of Dains LLP provided Corporate Finance advice. Tax advice was provided by Adam Longmore and Charlotte Gosling at Dains LLP. Matt Harvey and Mike McMahon provided legal advice to the newco and management teams alongside Lee Clifford at Freeths. Legal advice to Yorkshire Bank was provided by David Doogan at Pinsent Masons.