Stewart Group Holdings Ltd / ECI
Cavendish is pleased to announce that ECI, one of the UK’s leading mid market private equity houses, has invested £12 million in The Stewart Group, a manufacturer of plastic moulded products for the gardening and catering sectors, in a deal valuing Stewarts at £17 million. The deal was structured as a management buy-in/buy-out (BIMBO) with Richard Butler, joining the business as Group CEO. Cavendish acted for Lee Mowle, the owner and CEO of Stewarts.
Cavendish played an invaluable role throughout a complex transaction and in particular getting the transaction across the finishing line.
This deal provides an excellent platform for the Levolux business to continue its overseas expansion. As well as the compelling strategic fit, Alumasc provides an excellent home for the Levolux brand and team. We are delighted with the outcome and the support extended to us by Cavendish.
This has been a highly complex transaction involving 10 jurisdictions. Cavendish has held our hands throughout the process, providing a dedicated team who have done a superb job; this has greatly reduced interruptions to our businesses whilst adhering to the original timetable. Cavendish has achieved a very successful sale at a fair price to a buyer who will enjoy significant strategic value from the purchase.
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