Dains Corporate Finance advises on Excelsior Panelling Systems MBO

Dains provides due diligence services to Yorkshire Bank in support of the MBO of Excelsior Panelling Systems

Deal Summary

The Dains Corporate Finance team has recently performed financial due diligence on behalf of Yorkshire Bank in support of the management buy-out (“MBO”) of Excelsior Panelling Systems Limited ("Excelsior"). Excelsior is a long-established manufacturer and installer of custom-made washrooms serving the Education, Health and Commercial sectors throughout the UK. Established in 1978, Excelsior has a 50 strong workforce and has made significant investment in its 30,000 square foot manufacturing facility in Dudley.

Roy Farmer and Rob Wilson of Dains LLP undertook the financial due diligence on the business which included a review of the past two years and the current year financial performance and the maintainable EBITDA and commenting on the on-going working capital requirements of the business.

Our work was tightly scoped to specifically cater to what Yorkshire Bank required.

What the Bank said

Martin Aston, Director SME Cashflow Finance at Yorkshire Bank said “Dains has delivered again on a short, precise and targeted piece of financial due diligence that was fundamental to the funder’s needs. Real value add was demonstrated without the cost burden of a full scope that was not relevant to our lend.”

What we said

Rob Wilson, Manager at Dains Corporate Finance said "This was a great opportunity to work with Martin and Yorkshire Bank yet again. Our review was tightly scoped and focused on the key issues relating to the MBO transaction.”

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