Management buy-out marks new era for Cameron-Price Ltd
In a transaction led by Dains Corporate Finance, Cameron-Price Limited, a specialist injection moulding and assembly business predominantly for the automotive industry has been acquired by its management.
The multi-million pound deal, advised on by Roy Farmer and Rob Wilson at Dains, sees Managing Director, Barry Moor, acquire a majority stake in the business and provides for the retirement of Chairman, Tony Banks MBE. Moor has been with the business for 21 years and was appointed MD in 2011.
Tax advice for the deal was also provided by Dains - led by David Bradshaw and Caroline Bland.
Stirchley - based Cameron-Price is a leading supplier to several UK Tier one businesses, with strong relationships directly to original equipment manufacturers (OEMs) including JLR, BMW, Toyota, Ford and Nissan. Other specialist products are supplied to a range of industrial applications. The business has a long track record as a specialist injection-moulder but, under the leadership of Barry Moor, the company has moved up the value chain by supplying assembled parts, often direct to track-side on a just-in-time basis.
Roy Farmer, Dains Corporate Finance said: “This transaction is a great outcome all round. As a firm our relationship with the business goes back over 20 years, and we have been working closely with the shareholders and management team over the past few years to help shape this transaction.
“The deal provides Barry and his team with the potential to take Cameron-Price to the next level. There are a number of strands to the financing structure which totalled £6.6 million and combines efficient use of the company’s strong asset base alongside cash flow lending.”
Funding was provided by Yorkshire Bank with their legal advice provided by David Doogan at Pinsent Masons. Malcolm Cook at BDO provided financial due diligence. Mat Harvey at Weightmans advised management and Tom Durrant at Gateleys provided legal advice to the vendors.
Photo: L/R Roy Farmer, Barry Moor, Rob Wilson