Springboard Corporate Finance acted as lead adviser to the management team, led by Geoff MacArthur, on the tertiary management buy-out of Firstserve Group from private investors. Firstserve Group, which is the largest van based distributor of workshop consumables to the UK market, was acquired by management for an undisclosed sum. Based in Nuneaton, Firstserve Group employs approximately 240 people and has an annual turnover of £16 million.

David Neate led the transaction on behalf of Springboard Corporate Finance who commented, “This was a complex and drawn out transaction. Having successfully completed the transaction management has a strong platform to implement their strategy and to fully develop the business. We wish management every success”.

Posted: 05/03/2007