HMT Corporate Finance, led by partner Andrew Thomson, advised the shareholders of Secomak Holdings Limited on the secondary MBO of the company, supported by asset finance from Lloyds TSB.
As part of the transaction, loan notes from the original MBO of the company in 2005 were repaid and additional working capital to support the company’s growth plans has been secured. The transaction also provided an opportunity for the shareholders to realise their investment in the business under the current CGT regime.
Middlesex based Secomak was established in 1902, and is now a leading name in the provision of innovative shrink wrap and drying solutions for the food and drink sector.
Andrew Thomson commented:
“We are delighted to have advised Secomak on this recent transaction, which strengthens the company’s financial position and allows management to build upon their success since the original buyout.”