L-R Richard Mallard (Rowan), Ian Mansell (Yorkshire Bank), David Neate (SCF) and Claire Martin (George Green)

Springboard Corporate Finance acted as lead adviser on the purchase of Telford-based Rowan Telmac Limited, by Sales Director, Richard Mallard, for an undisclosed sum.

Based on Hortonwood Industrial Estate in Telford, Rowan Telmac employs 45 people and has annual turnover of £3.2 million, manufacturing a diverse range of seats for the UK’s bus and coach builders. Richard Mallard, who has held the position of Sales Director for the past five years, acquired the company from the principal shareholder Bill Thompson.

Commenting on the transaction, Mr Mallard said. “These are exciting times for Rowan Telmac. The company plans to introduce further new products to help meet the demand for new buses and coaches, this is set to increase markedly in the next few years. For example, it is estimated that 1,200 new buses will be required for the 2012 Olympics alone.”

According to David Neate, Director of Springboard Corporate Finance, who put together and led the deal, “We are delighted to have supported Richard to acquire Rowan, which is well positioned to fully benefit from its strong product range and favourable market conditions.”

“Rowan Telmac is well respected within the bus and coach building industry which has led to it being specified by many end users. In the past few years the Company has expanded their range to include seatbelt seats and to produce products which comply with the Disabled Discrimination Act to meet the needs of disabled people and also a range suitable for schoolchildren.”

Posted: 1/11/2006