HMT advised a BIMBO team led by Glyn Bottomley on its acquisition of Manroy Engineering Limited (“Manroy”) with debt funding provided by the Royal Bank of Scotland.
Manroy is a provider of specialist engineering services to the defence sector. The Company, which provides its services to both the UK and export markets, has achieved significant growth since its establishment in 1975, particularly in the last 5 years, with turnover now exceeding £10 million and with current defence market activity offering continued growth opportunities the Company has an exciting future.
Glyn Bottomley commented:
“This was a difficult acquisition that required many changes in financial tactics and personal approach by our team to the seller’s which required HMT to be very ‘flexible’ in their approach, during this the pragmatic and ‘technical’ advice given to me was invaluable. The close relationship developed between myself and HMT was undoubtedly a major factor in getting this acquisition through to completion. My intention is to continue growing our Group and I would expect that because of this transaction experience and the relationship developed between HMT and I that they will be an integral part of our growth.”