Corporate Fiance Deal Announcement: Filtration Control Group
We are delighted to announce the management buy-out (MBO) of Filtration Control Group by its management team, Stacy Norville, Mike Byrne, James Hudson, Phil Hudson, Adam Hughes and James Pearman. The team will manage the group under its new name FCL Organisation Limited, with original founder Deryck Norville remaining as chairman.
FCL Group is a leading distributor and manufacturer of engine filtration technology and components for the commercial vehicle, rail and automotive sectors worldwide.
Our advice was successfully led by managing director Laurence Whitehead, supported by Martin Shaw and Dani Patel. Our team worked closely with all parties to the transaction, starting with a review of the feasibility of the MBO and also including the preparation of a business plan and financial projections, the sourcing and negotiation of funding, as well as liaison with the chosen funder and solicitors, as the deal progressed towards completion.
Stacy Norville, head of the MBO team and managing director of the group, comments:
“The deal enables the incumbent shareholders to take equity out of the business as well as bring the next tier of management into the ownership structure as the business continues to grow and flourish. Exciting times lie ahead.”
We wish the new management team every success in the future and look forward to working with them again over the coming years.
If you would like to know more about this deal or how we can assist you, your clients or your contacts, send us an enquiry.