Supported by Connection Capital
MBO of Clamason Supported by Connection Capital
HMT LLP advised on the management buy-out of Clamason Industries Limited (“Clamason”) supported by Connection Capital (“Connection”) and Santander.
Clamason is Europe’s leading manufacturer of precision pressings and stampings. With facilities both in the UK and Slovakia, Clamason is a multi-award winning market leader for precision pressings in the automotive, medical and domestic sectors, with established international blue-chip clients.
The Management Buy-out was supported by Connection Capital whose clients invested £5.4million in the business. Funding and banking facilities were also provided by Santander Corporate Banking in Birmingham.
HMT provided both debt advisory services on this transaction (securing the best deal from an array of lenders in the funding market) and assisted Connection Capital in managing the Transaction to completion, including throughout the legal processes.
Bernard Dale, Partner at Connection commented:
“Clamason has real momentum and this investment will provide it with the vital financial capacity it needs to capitalise on its potential to grow and develop its business. HMT were a huge help throughout the process; finding the right debt package with Santander, guiding us through the legal process and working hard to bring the deal over the line. Working in partnership with them, their input was invaluable.”
Neil Geoghegan, CFO at Clamason commented:
“This is a very exciting moment in Clamason’s history. As we embark on the next stage of building our business, this investment will give us the financial scope to exploit growth opportunities with both new and existing clients and service areas. We would like to take this opportunity to thank both HMT and Santander for their hard work in helping to bring this MBO to fruition.”
Simon Clewlow, Director of Growth Capital at Santander commented:
“Santander are delighted to support Connection Capital and the incumbent management team with their acquisition of Clamason Industries Limited. It has a fantastic pedigree and we look forward to working alongside the business as it moves into the next phase of its evolution.”
Adrian Howells at HMT commented:
“As a long established business in the precision metal pressings sector, Clamason has been going from strength to strength, with FY16 being a record year. Connection Capital’s investment comes at an ideal time and will allow management to capitalise on and continue this strong growth trajectory. This transaction is testament to HMT’s deal experience and abilities, working with all parties, not just to secure an ideal debt package, but to help manage the deal to a timely completion. Our congratulations to Connection Capital and management, we look forward to working with them in the future.”
- Date: Wednesday December 12th, 2018