Deal type
Sector
Management Buyout of AS Fire and Rescue, Supply 999 and Todd Research
HMT Corporate Finance, led by partner Simon Jordan and manager Catherine Jones, advised Spring Ventures on their investment in the MBO of AS Fire and Rescue Equipment Limited (“ASFR”), Supply 999 Limited and Todd Research Limited (“Todd”) (together “Supply 999”).
ASFR manufactures ladders, shutters and gantries to the fire sector in the UK and overseas, and its Collins Youldon division (“CY”) manufactures hose reels and other specialist products for the fire and petrochemical industries. Todd assembles mail room x-ray scanners and provides associated maintenance and training, and S999 primarily sells rescue and training equipment to the UK fire service and others.
Cambridge based Supply 999 was part of Assetco plc, but as it was considered non core, the Management team, led by Derek Gotts and James Beard, pursued an MBO. Having only been established in 2010, the transaction was the first investment by Spring Ventures, led by John Hudson.
Simon Jordan of HMT commented, “We were delighted to work with Derek, James and John on this challenging transaction. Supply 999 is a leader in its field, and I believe that the MBO provides both the platform and opportunity for it to be able to continue its recent success.”