Dains advise on management buyout of Scott Brothers
Cheshire-based Scott Brothers has been taken over by its managing director Duncan Pratt-Thompson in a management buyout. The company, which supplies household storage products to retailers such as Argos, B&Q and Tesco, has annual sales of around £4 million and employs 15 people.
Pratt-Thompson, who joined Scott Brothers in 2008, has taken a controlling stake in the business after securing £1.6 million in receivables and inventory finance from asset-based lender Venture Finance.
The Dains Corporate Finance team advised Pratt-Thompson on the deal.
What we said
Roy Farmer, lead advisor for Dains, said, "Under Duncan's leadership Scott Brothers has more than doubled its sales in the past three years and has become the leading supplier of vacuum storage bags in the UK.
Despite the difficult economic environment, we received a strong level of interest from funders, which can be attributed to the high quality of the business and the strength of the team. We wish them continued success in the future."
Photo L/R - Roy Farmer, Teresa Geraghty, Duncan Pratt-Thompson, Jonthan Tyson