Endless fully exits Amco
Turnaround specialist Endless has fully exited UK engineering business Amco, by selling its Drilling and Developments branches back to management for £14m.
This transaction follows the sale of the Amalgamated Construction branch to Renew Holdings plc in February. Now fully exited, Endless stated that the investment in Amco was one of the most successful it has ever made.
Endless backed the £9.4m management buyout of four portfolio companies from Amco Corporation in 2008: Amalgamated Construction, Amco Drilling, Amco Plastics and Amco Developments were regrouped to form the Amco Group. Endless bought a majority stake in the newco while management retained a significant minority stake.
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