A Cheshire-based clay pigeon trap manufacturer is to expand its business internationally after it was bought by its management.

A Cheshire-based clay pigeon trap manufacturer is to expand its business internationally after it was bought by its management.

Promatic Group, which supplies its own branded clay pigeon launchers to the international sporting and leisure markets, was acquired by a team led by managing director Julian Coy.

The management team aims to capitalise on the growing demand for its products around the world, especially in the US where more than 20 million people enjoy the sport.

“The business has seen substantial growth over the last five years and the sport continues to expand around the globe,” Coy said. “In the last month we have added China and Iran to our customer base.”

Coy’s team was backed by a £3.3 million investment provided by NVM Private Equity. This was complemented by more than £3 million of acquisition finance and working capital supplied by Yorkshire Bank.

The deal was project managed by accountant BDO Stoy Hayward with legal advice provided by Cobbetts and Eversheds.

NVM’s investment was managed by Richard Gibson, who said the firm is backing the management team to grow the business. “With its current UK and US market positions, strong brand and product offering, Promatic presented an excellent investment opportunity.”

Yorkshire Bank’s funding package was arranged by Roddy Kilpatrick, director of Specialist & Acquisition Finance.

Kilpatrick, who was supported by local treasury specialists, said the bank was introduced to the deal by BDO.

“This is a great deal for Yorkshire Bank and we are delighted to support a high quality local business. The flexible funding package supplied will assist Promatic in achieving its UK and US growth aspirations.”

Following the completion of the deal, founder Brian Jardine has been appointed chairman with a brief to support the next phase of the group’s growth.