Management Buy-Out team secures successful future for specialist manufacturer


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The deal involved the Directors Mark Henley, John Waddington and Marie Bellamy completing a Private Equity backed Management Buy-Out, bringing the Sheffield based UK businesses and their US & Indian based subsidiaries, together under the new parent company President Engineering Group Limited.

Conflow is renowned the world over as the leading supplier of specialist components and systems for dust suppression, fire suppression and all aspects of water control in underground mining. Bestobell Valves is one of the world’s leading suppliers of cryogenic valves to the industrial gas and downstream LNG industries.

YFM Private Equity backed the transaction and their funding will support the Group’s global growth and product development plans. Investment Directors Ian Waterfield and Mary Broadhead led the transaction for YFM Group.

Acquisition debt finance was provided by Royal Bank of Scotland in the form of acquisition finance and working capital facilities and shortly after completion of the transaction, a working capital funding line was provided to the US subsidiary by Citizens Bank of the USA. Steve Ward of RBS structured debt solutions and Richard King of RBS Invoice Finance worked on the deal on behalf of the bank.

Kevan Shaw said “President Engineering and its brands are recognised as being associated with market-leading products and around the world. Castle Square is therefore very pleased to have advised the management team in their buyout of what is a flagship, truly world-leading business".

Mark Henley said “This is a very exciting time for all concerned, especially the employees of PEGL. We are looking forward to taking the Conflow and Bestobell businesses onto another level and believe we have the right blend of people, systems and support to do this”

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