Posted on 13 May 2015
A leading Midlands based independent commercial vehicle repairer is set for an exciting new chapter in its development after being bought out by its management team.
Transcare 28 Limited, a Road Transport Engineering business, which operates from Alfreton and Ilkeston, has been acquired from its founder and Managing Director Paul Appleby by Darren Parkin, who has been with the Company since its inception and who was previously a director and minority shareholder.
The MBO was advised on by Partners Natasha Smith and David Nelson of accountancy and business advisory firm, Smith Cooper and Derby law firm Flint Bishop.
David Nelson, Business Advisory Partner at Smith Cooper provided advice on the acquisition, its structure and deal with the raising of funds from NatWest Bank Plc’s Structured Finance Team.
David commented: “We are delighted to have assisted Darren on the successful management buy-out of Transcare. Alongside Paul Appleby, Darren has been integral in the development and success of the Transcare 28 Limited business and it is fantastic to see him now take over the reins fully from Paul and drive the next phase of growth and development in the business.
Martyn Brierley, an associate from the Derby office of law firm Flint Bishop led the legal team advising the buyers on the MBO. Martyn commented: “It was a real pleasure working with Darren on the management buy-out of Transcare - We are confident the business will continue to grow and maintain its leading reputation, with Darren now at the helm”.
Funding for the MBO was provided by NatWest.