Sheffield-based advisers have worked on two multi-million pound buyouts in a month – and say the South Yorkshire deals market is “springing to life”.
Countrywide Healthcare Supplies is looking to grow after a management buyout. The company, one of the leading national distributors of supplies to the care sector, has secured £2.7 million from investment management company Octopus.
Established in 1996, it operates from a purpose-built distribution centre in South Yorkshire. The second deal saw a £1.5m investment by Foresight Nottingham Fund into Crowle Wharfe Engineers Ltd, a leading provider of end-to-end engineering solutions for the rail, power, oil and steel industries.
The investment provides the company, which has 50 employees, with development capital to drive growth and job creation. Based in Lincolnshire and Derbyshire, CWE has grown steadily in recent years and, the funding deal will unlock additional capacity.
Advisers Mackenzie Spencer worked with legal and banking teams from hlw Keeble Hawson and HSBC on the transactions.
Mackenzie Spencer’s Mark Stanley said: “After five years of limited activity, the funding market is improving. Significantly, some businesses now have two years of solid numbers behind them and that creates the track record to get funding decisions made.
“We are already working on our next two deals and we expect the next 12 months to be extremely busy.”