Case Study: R&M Electrical Group Limited
- Deal size:
- Management Buy-Out
- Electrical Distributor
- Deal completed:
- Febraury 2018
Meridian advised the Shareholders of R&M Electrical Group Limited (“R&M”) on a management buy-out.
R&M is one of the largest independently owned cable and electrical distributors in the UK, who have specialist divisions, providing products, services, expertise and project management both nationally and internationally to the Commercial, Industrial, Marine, Oil & Gas and Pharmaceutical sectors.
Founded by Brian Robinson in 1986 in Southampton, R&M has seen substantial growth and through worldwide expansion has seen operations spread across 13 subsidiaries and joint ventures giving R&M a true global reach.
The management buy-out was funded through Senior Debt facilitated by NatWest and will support R&M with continued operations and further global success.
Mikael Rosen, NatWest Relationship Director in the Solent Region who led the deal comments, “We are delighted to have supported the management team with this transaction and to have gained the opportunity to work with the business going forward. R&M Electrical are a long-established global business, with a strong local heritage and we look forward to a long-term partnership with them.”
William Crook and Tim Coomer, MD and FD of R&M comment on NatWest, “We are both delighted to have completed the deal and now be banking with Mikael and the team at NatWest. Throughout the process the NatWest team have delivered on their commitments and deadlines, demonstrating that they will be excellent banking partners in the new era.”
Daniel Kirtley, Manager at Meridian who led the deal comments, “R&M is a business with a long local heritage and a global reach. We were therefore proud to structure, advise and coordinate the MBO, which crystallised value for the founder-owners and facilitated increased equity ownership by the existing, highly skilled management team. The transaction was very well supported by NatWest, BDO (due diligence provider), Trethowans (lawyers for R&M) Shoosmiths (lawyers for NatWest) and DSA (tax advisers), demonstrating the assistance available within the area for owner-managers considering their next steps.”
Brian Robinson, the founder of R&M comments on Meridian “Dan and the team have done a great job with the process. This has ensured that R&M remains a strong independent privately-owned family orientated business. We also look forward to working with Mikael Rosen and the management team at NatWest Bank to help with our continued success and growth.”