MBO of Winder Power backed by Connection Capital
HMT LLP, led by Partner Paul Read, Director Corin Briault-Hutter and Manager Francis Drysdale advised Connection Capital in its investment in Winder Power to support the MBO.
Leeds-based Winder Power designs, manufactures, installs and manages electricity distribution transformers for the UK electricity grid and infrastructure customers. Transformers are used to ‘step up’ or ‘step down’ voltages and are used e.g. to connect electricity generated by Wind and Solar farms (low voltage production) to the National Grid (high voltage transmission) and back down for domestic and commercial use (low voltage).
The company, which has revenue of c£35m employs 120 staff in West Yorkshire, traces its roots back over 100 years. It is now set to benefit from significant investment in the UK’s electricity infrastructure supporting an increased demand for clean energy electricity, self-sufficiency of energy supplies, and for the UK to reach net zero faster.
HMT, led by Paul Read, Corin Briault-Hutter and Francis Drysdale, undertook financial due diligence on this transaction.
Bernard Dale, Partner at Connection Capital commented:
“HMT provided a thorough and high-quality assessment of the company and quickly formed views on the key issues in the company’s trading, with insight to the areas of risk in the financing of the transaction. In addition to their report, we found them always ready to answer questions and provide further evidenced based support for their views.”
Paul Read commented:
“We are delighted to have advised Connection Capital on their investment in Winder Power. With Connection Capital’s support, the business will be able to increase their infrastructure investment and realise their ambitious growth plans. We look forward to working with them in the future.”
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