Management Buyout of Pipe and Piling Supplies Limited
31 May 2015
Johnston Carmichael provided Corporate Finance and Tax advice for the Management Buyout of Pipe and Piling Supplies Ltd (PPS), with funding provided by Clydesdale Bank. The transaction, for an undisclosed sum, was led by Managing Director Alistair Cochrane.
The Fife based company, supporting 70 jobs across the country, is a leading supplier of fabricated goods to the rail and civil engineering sectors. PPS specialises in manufacturing steel foundation piles and overhead structures for infrastructure customers such as Network Rail. The funding was used to buy out the founding shareholders and to provide working capital.
Since joining the business seven years ago, Alistair Cochrane’s focus on expansion has taken the company from a turnover of £1.6m to a forecast of £20m in the current financial year.
Johnston Carmichael’s support included advising on the deal structure, assisting with the business planning and financial forecasting process, and supporting the negotiation of the legal documentation.
Pipe and Piling Supplies won The Small/Mid-sized Company Deal of the Year at The Deal & Dealmakers Awards 2016.
“Johnston Carmichael provided valued advice and support across a number of areas in completing the MBO. They displayed an extensive knowledge of the business, demonstrated a deep understanding of the dynamics of the transaction process and provided valuable advice in how best to structure the deal.”
Alistair Cochrane
Managing Director
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