HAMPSHIRE funding specialists Balfour Corporate Finance has completed a £750,000 management buyout of a commercial lighting equipment company.
The deal was with west London based Flex Connectors.
Balfour, which specialises in the creative sourcing of funding for deals in the £100,000 to £3.5m niche, located funding from Reigate based NMB Heller.
The management buyout team was led by managing director Hugh Gearing and technical director Steve Garton.
Flex, which manufactures and supplies a range of innovative products for the commercial lighting connection and control market, was only set up three years ago.
It has already doubled its first year's turnover to an estimated £1.2m.
Hugh said: "We are enormously confident about the future and eager to drive the business forward.
"Balfour Corporate Finance was recommended to us and their direction and support in structuring the deal was invaluable - they say it's all about who you know, and Balfour knew everyone from the smaller venture capitalists to the banks and everyone in between."
The legal adviser to the management team was Amanda Brockwell of south coast based Coffin Mew & Clover. Simon Howard from the Winchester office of Morley & Scott chartered accountants undertook due diligence and are providing ongoing advice.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article