Maven backs John McGavigan

The injected capital is thought to be worth several million pounds and will be used for expansion into the Chinese market and to build production at the Bishopbriggs headquarters. According to rumours, Maven will take a 30% to 40% stake in the company. David Taylor and Stephen Mathers who rescued the company from administration in 2009 are thought to hold around 50% following the deal. Also, two further members of the management team will take a small stake.

McGavigan is a producer of front panels for car stereo systems and backgrounds for speedometers and has 133 members of staff. The company is headquartered in Bishopbrigg and had a turnover of £9m in 2010.

The unquote" team is currently researching this transaction. In-depth deal information for subscribers will follow shortly.

If you have any information regarding this transaction, please contact Diana Petrowicz on +44 20 7004 7505 or diana.petrowicz@incisivemedia.com

 

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• Topics
• Consumer
• Expansion
• UK / Ireland