Wednesday, August 5, 2020

MBO the latest stage of evolution for West Yorks manufacturer

A new team has taken the reins of Brighouse-based Siddall and Hilton Products following a management buyout (MBO).

Founded in 1898, Siddall and Hilton Products is a producer of welded steel mesh high-security, general fencing and industrial mesh panels.

In 2015, Neil Stewardson led an MBO with Ian Thurley enabling the exit of the Siddall family. The new management subsequently driving the business’s geographic expansion and product diversification.

Mr Stewardson is now leaving to business to focus on other interests and investment. He has sold his shareholding to a consortium of existing management team members.

This consortium was led by Mr Thurley, who takes on the role of Chief Executive, together with co-investors Morgan Beresford-Lambert, Finance Director; Andrew Lingard, Purchasing and Quality Director; Simon Butterworth, IT and Communications Director; Neil Sutcliffe, Sales Director; and Pam Jackson, ERP Manager.

The MBO was funded by ABN Amro with support from the company’s mortgage provider, Barclays, and supplemented by significant equity investment from the shareholders.

A team of Yorkshire advisers supported the transaction including Hitesh Tailor of Clarion in Leeds and Richard Wilson of RSM who advised the management team; and Lester Wilson of DWF in Leeds who advised Mr Stewardson.

“The MBO represents the next stage in the evolution of Siddall and Hilton Products Limited,” said Mr Thurley.

“Having placed the business on a sound footing for the future, our focus will be on improving long-term sustainability through greater employee engagement and involvement, ensuring that we create a ‘one team’ ethos which builds on the loyalty, dedication and commitment already amply demonstrated by our staff.”

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