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MTL 'fastest growing'
A SHEFFIELD company has been named the fastest growing management buy out in the North East.
Darnall-based Mayflower Technology secured its place in the Sunday Times Deloitte Buyout Track 100 league table after recording an annual profit growth of 71.25 per cent.
The Coleridge Road business came 18th overall in the national table and third in the North of England, in addition to being the fastest growing buyout in the North East. Mayflower – which is changing its name to MTL Group – makes components for military vehicles, trains and construction equipment for customers such as BAE and Caterpillar and trebled its profits between 2004 and 2007.
The company was family-owned until Bank of Scotland Corporate and corporate finance group Dow Schofield Watts backed management buy out in 2006, led by managing director Henry Shirman.
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Thursday 24 May 2012
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