Ferrabyrne Limited

Meta Corporate Finance is pleased to announce that Ferrabyrne Limited, the Littlehampton based designer and manufacturer of moulded and bonded rubber based products to the Rail, Truck and Electrical Industries, has been sold by Andy Byrne, who founded the business over 30 years ago, and fellow director Bob Slatter to a management team comprising Glenn Mills, Managing Director and Ken Horton, Commercial Director. Hans Christian Iversen, will be appointed as non-executive chairman.

Meta Corporate Finance managed and structured the transaction working initially with Glenn Mills. Meta introduced Ken Horton, a long-term client, to bolster the financial and commercial functions. With a background at KPMG and experience in leading companies with institutional funders, Ken’s participation gave the transaction’s backers even more confidence in its growth plans. Meta also introduced a Chairman, Hans Christian Iversen, who also invested.

The MBO was funded by Lloyds TSB Commercial Finance, the management team and previous owners.

Mark Ledger-Beadell, who lead Meta’s services, commented: “The deal required a degree of lateral thinking on both sides, but resulted in a robust structure with an expanded management team well placed to develop Ferrabyrne and strengthen its position in its market.”

Corporate Finance

Adviser: Mark Ledger-Beadell, Meta Corporate Finance

 

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