Senior managers at manufacturer Securistyle have acquired a majority shareholding following a £42.3 million secondary buy-out. The deal, which was led by managing director Paul Cook, was completed with funding provided by Bank of Scotland Integrated Finance.

Senior managers at manufacturer Securistyle have acquired a majority shareholding following a £42.3 million secondary buy-out. The deal, which was led by managing director Paul Cook, was completed with funding provided by Bank of Scotland Integrated Finance.

The bank provided a debt and equity package that was managed by regional director Nigel Irvine, who was supported by David Moxham and Dougal Murray.

Securistyle was sold by August Equity, which invested £11.3 million in the original buy-out from Dublin-based venture capitalist Allen McGuire in November 2003.

The deal was coordinated by Richard Jones, a partner in Ernst & Young’s Bristol-based corporate finance team, who was assisted by Nick Harber and Michael Hodgson. The buy-out team received legal services from Osborne Clarke, with Bank of Scotland advised by Burges Salmon.

Cheltenham-based Securistyle generates a £25 million turnover manufacturing hinges, locking mechanisms and handles for windows, doors and conservatories.

The group employs 350 people and supplies products to government housing projects; it also has an export business.