We have just completed a £3 million part EIS-qualifying investment in the management buyout of the Airedale Group of companies.
We received coverage on Real Deals (Rockpool Backs Airedale), Alt Assets (UK’s Rockpool Investments backs MBO of catering company Airedale), Catering Insight (Airedale Group Completes Management Buy-Out) and in regional Yorkshire press.
Established in 1986, the Airedale Group, which is based near Bradford, West Yorkshire, designs, builds, installs and services large commercial kitchens for independent and leading national hospitality customers across many sectors, including schools, hotels, pubs, hospitals and restaurants.
Alan Armstrong, our senior Partner and Head of Private Equity, comments: “This is a really attractive management buyout opportunity – we are delighted that we were chosen as the management team’s investment partner. This is an established business which has generated an operating profit in all of the last 27 years of its existence. The new management team has developed and widened the customer base and offering, building on the strong platform created by the founders.”
Rob Bywell, Managing Director at the Airedale Group, says: “The senior management team at Airedale has personally invested £250,000, which highlights our belief in the excellent growth opportunities for the business. Despite the downturn, the UK market for commercial catering equipment is set to grow 8% by 2015 and is currently worth an estimated £650 million.”
This transaction is a first glimpse of the new Enterprise Investment Scheme (EIS) landscape opened up by last year’s changes. With a much larger maximum raise of £5m per year, and the higher employee and asset limits, EIS is moving into the mainstream of private equity. EIS investors can now participate in management buyouts of solid, profitable companies.
To read the full Airedale press release, please click here: Rockpool makes £3 million investment in the MBO of growing UK commercial catering equipment specialist.
If you would like further details about the Airedale opportunity, please see our Live Investment Offers page, or contact Sylvia Lennon on 0207 015 2150 or via e-mail at firstname.lastname@example.org.