Wakefield based MTS Nationwide Limited, the leading plant hire and sales provider for the Doosan Bobcat range of earth moving equipment, has been acquired via a management buy-out.
MTS operates throughout the North of England and Scotland with a 50 strong team and an annual turnover of £8million. The company will now be led by husband and wife Iain and Sarah Black, and Matthew Watson who will step up into an ownership and executive directorship role as part of the transaction. The deal will see current Managing Director, Peter Watson, who has led the growth of the business for the last 22 years, move into the role of Chairman for a period of time post completion.
Iain Black, who has now become Managing Director at MTS, commented: “Both Sarah and I are delighted and naturally excited about the future of MTS. Peter and the whole team at MTS have done a superb job over the years and we look forward to growing and developing the business with our existing and new clients.
“We have been very impressed with our advisory team including BHP Corporate Finance, Clarion and RBS who all provided quality and proactive advice. The combination of our advisory team working together as one was first class.”
Andy Haigh led a team from BHP Corporate Finance advising the management team on the acquisition. This involved preparing a strategic business plan, advising on price and structure as well as arranging a finance package through Gemma Wright at RBS. Jonathan Simms and Kaira Clarehugh from Clarion Solicitors provided legal advice to the management team, whilst Giles Clegg from Lupton Fawcett Dennison Till advised the vendor.
Andy Haigh said: “It is very pleasing to have structured a transaction that suits all of the stakeholders so well. Peter has done a fantastic job leading the development of MTS and we look forward to supporting the high quality ownership team as they continue his work to deliver further growth for the business.”
In addition to its Wakefield headquarters, MTS has depots at Leigh in Lancashire, Cumbernauld in Lanarkshire and Chester Le Street in County Durham. The company was founded more than 25 years ago as a supplier of welding, fume extraction and pipework equipment into the UK petrol chemicals sector. It has since expanded into a number of new markets, including construction, infrastructure, farming machinery and plant hire, as well as supplying golf vehicles to many well-known golf courses throughout the North of England and Scotland.