Upgrade to ChromeUpgrade to FirefoxUpgrade to Internet ExplorerUpgrade to Safari

Proctor Brothers announced Management Buyout

1st September 2020

procter brothers

Caerphilly-based Proctor Brothers has completed a management buyout which safeguards over 100 jobs and puts the business on course for future growth.  The business has been family-owned since 1740, and the completion of the MBO ensures it will remain in the family while safeguarding the futures of Procter Machine Safety and Procter Contracts.

Procter Machine Safety designs, manufactures and installs machine guards and provides machinery safety services, while Procter Contracts designs, manufactures and installs entrance gates, fencing, security systems and street furniture.

The successful management buyout was led by John Procter who now assumes the role of group managing director.  John Procter said: “I am delighted to have led the acquisition of Procter Brothers, where I have worked for 20 years, and as managing director for over five years. We are a market leader in our industries and I am committed to growing the business further and cementing our position within the industries we serve.”

“We were embarking on the MBO which was new territory for us, and we knew that we needed to strengthen our finance team with more experience.  Chris at SME Finance Partners listened to our plans and what we wanted to achieve and brought in his colleague Neil Paramore as our part time Finance Directors who led our team through the entire MBO process.  Neil worked with our management team, advisors and key stakeholders, and helped secure £2m of funding, led on the share purchase agreement and his experience and calm presence guided us throughout.  Without this support I know we wouldn’t have been in the strong position we are now in”

GS Verde Group provided Legal and Corporate Finance advice, with Bibby Financial Services, the Development Bank of Wales and Welsh Government providing funding for the deal.