Metalworks to seek new markets after management buyout

Jul 23 2008 by Alistair Houghton, Liverpool Daily Post

A SPECIALIST manufacturer is planning to tap into new markets after a management team buyout.

Merseyside Metalworks has undergone an £875,000 management buyout, including funding from Alliance Fund Managers (AFM) and the Royal Bank of Scotland.

The city centre company makes and installs specialist ductwork for heating and ventilation systems. Its customers include large UK engineering companies.

Its new funding package, which includes £300,000 from AFM through Merseyside Special Investment Fund’s Mezzanine Fund, will allow three existing employees, Jim Galvin, Carl Farrington and Mark Horrigan to take over the 30 year old business from exiting managing director Stuart Howard.

Mr Galvin said: “We are thrilled at this opportunity.

“We intend to capitalise on the potential for us to tap into new markets.

“We would like to thank all the staff for their loyalty, everyone involved in the MBO process and especially Stuart who has given us a lot of encouragement and support.”

Merseyside Metalworks has 120 full-time staff and a further 60 agency staff.