L-R Andy Comyn (GE), Heidi Hendon (Harvey Ingram LLP), David Neate (SCF) and Chris Ferrar (MSP)

MSP Ltd, a manufacturer which provides turned parts and components to companies in the automotive, engineering, gas and domestic sectors, based in Coleshill, Warwickshire has successfully completed a management buy-out. The deal which was led and constructed by Springboard, was supported by a complex funding package provided GE Commercial Finance and HSBC.

Led by managing Director, Chris Ferrar, the buyout team also included works director, Steve Smith, and quality director, Martin Smith. They plan to continue to strengthen MSP Ltd’s position in the market through increased focus on higher value added production and to build its presence in other industries, such as the medical sector.

Chris Ferrar commenting on Springboard’s involvement in the transaction said: “Springboard Corporate Finance took the stress out our recent MBO. Professional throughout, our team were impressed with their excellent level of service. I am sure we will use their expertise in the future”.

David Neate commenting on the deal said “MSP is an illustration of a traditional UK manufacturer that has successfully adapted to meet the challenges of a highly competitive market place. Through focusing on delivering quality components coupled with high levels of customer service, the business has developed a successful operating model. This transaction also underlines that funders are still keen to support management teams acquire their businesses in the manufacturing sector”.

Posted: 1/02/2007