HMT advised the management of Sea Bunkering Holding Limited on the acquisition of SBH for an undisclosed sum.
SBH comprises four trading companies which supply oil based products and fuels mainly to the shipping and hauler industries throughout the UK and Europe. SBH has offices in Hull and Henley-on-Thames.
The management buyout was led by Barry Newton, who has been with SBH since 1993.
Led by partner Andrew Thomson, HMT negotiated the transaction on behalf of management and secured the debt funding for the transaction with Clydesdale Bank.
Andrew Thomson commented:
“This is an established business, with a proven track record, which I am sure Barry will continue to successfully grow.”