Craig Johnson and Gary Dent have completed the management buy-out (MBO) of Blaydon-based Architectural Powder Coatings (APC Ltd).
Between them they have worked for APC Ltd for a combined 22 years.
APC Ltd specialises in powder coating aluminium and galvanised steel components that are widely used in the construction industry. Their North East based operation covers Scotland to Leicestershire, with a variety of customers large and small. All receiving the excellent quality and service they have come to expect of APC Ltd.
They were advised on the MBO by Newcastle based law firm for businesses, Muckle LLP, and this enabled the well-deserved retirement of the former shareholders.
Craig Johnson and Gary Dent, directors of APC Ltd, said: “After many years devoted to the company, it’s a fantastic opportunity to be able to successfully complete this management buy-out.”
“This deal will enable us to really drive improvement at APC Ltd and we have ambitious plans for the future. We already have a loyal and strong customer base, while still attracting fresh enquiries and successfully bringing new customers on board.”
“With the financial guidance from Paul Killen and Craig Jeavans of Stokoe Rodger LLP on the structure of the deal, along with the expert legal advice on the MBO process from the team at Muckle LLP, we are delighted to be able to complete the acquisition.”
APC Ltd is an Approved Applicator for Akzo Nobel (Interpon), Axalta Performance Coatings, Tiger Coatings UK, Syntha Pulvin (Inver) and IGP Powder Coatings.
Sara Worsick, solicitor at Muckle LLP, said: “We are delighted to have advised Craig and Gary on their successful MBO.
“They are both driven and dedicated individuals, so I have no doubt that they will go on to achieve their ambitions with the company. They have worked very hard to get to this stage and I wish them both and the business every success in the coming years.”
The MBO was supported with investment provided by Barclays Bank plc and Skipton Building Society.
Specialist legal advice was provided by Muckle LLP Partner Anthony Evans and solicitor Sara Worsick in the Corporate team, together with solicitor Zoe Ditch in the Banking team.