The CEO of East Midlands manufacturer Dynamic-Materials Group has led a secondary management buy-out (MBO) of the company.

The CEO of East Midlands manufacturer Dynamic-Materials Group has led a secondary management buy-out (MBO) of the company.

Brian Irvine and his management team have acquired 100 per cent of the company in the buy-out from Barclays Ventures, which was completed with debt funding provided by Lloyds TSB Corporate Markets. Further financial details of the transaction were undisclosed.

Says Irvine, who joined as CFO in 1997 and was appointed to his current role in 2002, ‘It was somewhat of a miracle [that] over Christmas, the transaction was completed in ten days from receiving a firm offer of funding to completion.’

Advisers to the management team on the deal included Cooper Parry Corporate Finance and law firm Browne Jacobson.

John Bryant, a deal maker at Cooper Parry, says the MBO ‘opens up significant opportunities for the future growth of the business’.