Friday, 18 October 2019
Shorts supports Juratek Limited management buyout
Shorts recently teamed up with Wake Smith and HSBC to act as lead advisers, legal representatives and funders on the management buy-out of automotive aftermarket braking products specialists, Juratek Ltd.
Founded in 1995 Juratek supplies automotive aftermarket braking products for both light and commercial vehicles, from its head office in Doncaster (UK).
The £16m turnover company employs 50+ people and distributes around the world. Existing shareholder Matt Robinson (Managing Director), Toby Whewell (Sales and Marketing Director) and Mark Clegg (Operations Director) have now taken full control after acquiring the remaining shareholding from outgoing Chairman Allan Hooks.
Andy Ryder, Corporate Finance Partner with Shorts, said: “It was a pleasure to assist Matt, Toby and Mark to complete the buy-out of a business which they have been key to driving over recent times.”
Chris Alsop, Relationship Director at HSBC, added ‘’Juratek has gone from strength to strength and I’m confident that Matt and his team will take the business to the next level. I am pleased to have supported them in this buy-out’’
Director and Head of Company Commercial at Wake Smith Solicitors, Duncan Shepherd, said: “ We advised Matt Robinson, the existing Juratek MD, on the MBO from Allan Hooks, together with putting in place a structure involving two new minority shareholders Mark Clegg and Toby Whewell which will enable Juratek to take the next step in its ongoing development.”
HSBC was advised by BHP (financial due diligence) and Irwin Mitchell (legal advice).Back