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Leading Midlands based advisory firm Springboard acted as lead advisor to Midland Industrial Glass ("MIG") duo Alan Taylor and Glenn Bicknell, facilitating their secondary buyout of the business.
Established in 1936, Smethwick based MIG is one of the largest independent, specialist glass processors in the UK, supplying a wide range of products, including toughened glass and mirrors to the retail, transport, balustrading and street furniture markets among others.
Key Capital Partners invested in MIG and the transaction provided an exit for Birmingham based venture capitalist firm, Midven. The deal will enable the business to accelerate its organic and acquisitive growth plans, capitalise on a number of projects in 2012 and build on its enviable client base and market position.
Justin Sparks who led the deal for Springboard commented, "we were delighted to support our clients, helping to structure and negotiate the transaction to provide a strong platform for future growth. We look forward to working with our clients in 2012 and beyond unlocking further opportunities within the glass market."
Commenting on Springboard's involvement, Alan Taylor said "having already been through an MBO we felt that we had learnt a lot about negotiating a deal and raising finance. However, we are extremely thankful that we appointed Springboard to work with us on this new deal as they added value throughout the whole process. It is a fact that without Springboard’s dedication and expertise we would not have successfully completed this deal. They supported and guided us at all times but we always felt in control and more than comfortable in what can be a fairly daunting and involved process.
We would highly recommend using them and it was certainly money well spent."
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