Bury St Edmunds-based Pneumatic Lines, which provides electronic and pneumatic control systems to a variety of industries in the Midlands and East Anglia, has undergone a management buyout. GE Commercial Finance backed the deal.
Bury St Edmunds-based Pneumatic Lines, which provides electronic and pneumatic control systems to a variety of industries in the Midlands and East Anglia, has undergone a management buyout. GE Commercial Finance backed the deal.
The deal, intended to help Pneumatic extend geographical coverage in the UK, was led by senior engineer Mark Mackinlay and supported by company accountant Tony Jordan, who tells GrowthBusiness.co.uk that deal negotiations took about 10 months and that the company is now focusing on organic growth.
‘We’ve got two main suppliers and we’re looking to develop some of the smaller suppliers a bit further to increase our market penetration,’ he says.
Mackinlay comments: ‘We have a clear vision of the future for the business. There is considerable business potential for us and our world-leading manufacturer partners following the MBO, and we hope to build on this opportunity and expand.’
Smith Cooper advised on and managed the deal, and Flint Bishop & Barnett provided legal advice.
