MBO at Advanced Alloys

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Leading processor and supplier of speciality alloys Advanced Alloy Services Limited has been acquired in a management buy-out.

The Dinnington-based company was established over 25 years ago by Alan Fisher, and with turnover in excess of £30m has developed to become one of the UK’s leading specialists in processing and recycling high-temperature alloys and metals. The company supplies products for extremely demanding end-use applications, in industries such as aerospace, oil & gas and medical.

The company has been acquired by its Managing Director, Steve Hall, who commented: “Firstly, my thanks must go to Alan who has nurtured and developed Advanced since its inception over 25 years ago. It’s this legacy that I will be building on, and I’m absolutely delighted to have the opportunity of taking this exceptional business into the next chapter of its growth. We will of course be continuing to work closely with our suppliers and customers, with the support of the fantastic staff here at Advanced.”

An extended team of some of the region’s leading dealmakers advised on the deal, with funding to support the transaction provided by Shawbrook Bank.

BHP Corporate Finance acted as lead advisor on the transaction, with a team comprised of Don Gray, Kevin Davies and Rachelle Rowbottom. Commenting on the transaction Kevin Davies, partner, said: “I am delighted to see Advanced Alloys step into this next exciting stage, Steve has ambitious plans for the future of the business. An innovative funding package was required to support both the structure of the deal and Advanced’s working capital cycle. It is further demonstration of the funding appetite we are seeing for carefully prepared and structured transactions.”

 

Nick Salmons led the transaction for Shawbrook Bank. Nick commented:

“At Shawbrook we’ve worked on a number of advisor-led MBOs this year and this is a great example of how working closely with the team at BHP and Advanced Alloy Services has delivered another solution that doesn’t just support the transaction but also provides the headroom to deliver further growth.”

Peter Crawford and Emily Pogson of Freeths provided legal advice. Peter said:

“Advanced is a very strong business with a great future ahead of it. We have enjoyed working with Steve to bring this transaction to completion and we look forward to watching Advanced continue to develop and grow under Steve’s direction.”.

Other local advisors to the transaction were Paul Trudgill and James Burdekin of Keebles who acted for the vendors, and Dean Gormley and Hayley Johnson at Irwin Mitchell who acted for Shawbrook.