Shawbrook Bank provides funding to support buy-out of Dudley-based industrial fastener specialist
– Shawbrook Bank provides loan facility to fund management buy-out of “bolts and nuts” distributor Martyn Price Fasteners.
– Gary Macauley, who led the buy-out alongside his daughter Carly Pearson, joined the firm in 2000.
– Trading from its base in Dudley, the firm has been serving customers nationally for over 40 years.
Shawbrook Bank has provided financing to support the management buy-out of Martyn Price Fasteners (MPF). MPF was set-up in 1972 and distributes industrial fasteners nationally, offering high quality service and a market-leading range of products.
The finance has allowed MPF’s managing director Gary Macauley and Sales Director Carly Pearson to buy the Dudley-based distributor from its existing owner Jaguar Capital. The MBO team was advised by Nic Hanlon at Hanlon Corporate Advisory.
Macauley was brought on board as general manager in 2000 to enhance the 46-year-old firm’s customer and supplier relationships, and has since helped the business evolve to focus on delivering exceptional service, an un-rivalled breadth of product and operational efficiency through the introduction of digital stock control systems.
Macauley said the speed, specialist knowledge and flexibility he found with Shawbrook just wasn’t available from the High Street lenders he had initially approached. This is the latest of a number of MBOs Shawbrook has supported during 2018 through its network of Regional Business Centres.
Gary Macauley, Managing Director, Martyn Price says:
“At such an important time for the company, it was crucial we had a bank onside that was able to understand what we were trying to achieve. Shawbrook’s experience in this space, combined with their local knowledge and presence, was key to getting the transaction completed in the professional manner we wanted.”
Kelly Henney, Relationship Director, Midlands at Shawbrook Bank: “The deal signifies what is expected to be a sustained period of growth for Martyn Price, and it was great to be able to support Gary, Carly and the team through the transaction. It’s another example of the entrepreneurial spirit that’s alive and kicking in the West Midlands right now.”