Investacast Limited is one of the UK’s leading suppliers of investment castings with over 50 years’ experience in the sector, covering industries such as aerospace, automotive, marine, communications, military, oil and gas and electronics. Investacast’s approach is one of a holistic service from design, research and development to final production and stock holding. In order to service its clients, Investacast operates from its Ilfracombe-based foundry and has supply chain partnerships throughout Asia, providing ISO9001 accreditation and guaranteeing quality which is second to none.
The founding shareholders of Investacast wanted the business to move to its next stage of growth and development, and as such proceeded with a management buy in (‘MBI’) earlier this year. The MBI was led by Alistair Schofield (Managing Director of Expromet Technologies Group Limited). Alistair Schofield said ‘looking at the pedigree of Investacast, this is one of the UK’s top precision casting businesses and it is a great pleasure to become part of the management team to assist in the continued growth of the business at a national and international level’.
In order to fund the MBI Expromet approached HSBC, given its background and expertise in the manufacturing sector. Martyn Drayton (International Relationship Manager at HSBC) said: ‘As a global bank and, given Investacast’s global connections, it was only natural for us to assist in funding the transaction, which was achieved through a mixture of debt and structured working capital facilities’.
Colin Rodrigues (Corporate Partner at Hawkins Hatton) said ‘when acting for the bank, as we did in this transaction, it is always important to strike the right balance between ensuring the bank is fully protected and meeting the commercial needs of the customer’.
Jat Najran (CF Adviser at M&A Business Transactions) said that ‘it was a delight to work with Alistair and the team, to help support and guide them through this exciting chapter. It has been great to be involved in a deal like this, advised and funded by the Midlands corporate finance community, and I look forward to seeing them go from strength to strength’.