NVM supports Thyson MBO

Kenny Wastell
04 January 2017

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NVM Private Equity has supported the management buyout of industrial instrumentation company Thyson Technology from a consortium of private investors.

Financial details of the transaction remain undisclosed, though NVM typically makes investments of £2-12m. Thyson generated an operating profit of £1.7m in the year ending 2015, according to publicly available records.

Under its new ownership model, the company will look to grow internationally and expand into new market segments. In 2016, the company invested in the expansion of its manufacturing facilities to meet an increase in orders.

As part of the deal, NVM investment partner Andy Leach will take a seat on the Thyson board.

NVM made seven investments in 2016, most recently backing the £7m MBO of Presteigne Broadcast Hire, a rental provider of broadcast equipment, from parent group Avesco.

Debt
Allied Irish Bank provided a debt package to support the transaction.

Company
Founded in 1994 and headquartered in Ellesmere Port, Cheshire, Thyson produces analytical and instrumentation products for use in sectors including oil & gas extraction, green energy, water treatment and nuclear power. Its customers include the UK National Grid, BP, Air Liquide, ExxonMobil and Qila Energy.

Thyson generated sales of £11.8m in the year ending March 2015, according to publicly available records. According to the company's website, Thyson was anticipating a turnover of £14.7m in 2016.

People
NVM Private Equity – Andy Leach (investment partner).
Thyson – Mike Braddock (managing director).

Advisers
Equity – Shoosmiths, Kieran Toal (legal); Clearwater International, Paul Jones, Oliver Wheatley (corporate finance); Intuitus, Phil Reynolds (IT due diligence); PMSI, David Crout, Piers Copham (commercial due diligence); Quinn Partnership; Paul Quinn, Mike Stiles (management due diligence); Dow Schofield Watts, Catriona Lang (financial due diligence).
Vendor – DWF, Jonathan Robinson (legal).
Management – Hill Dickinson, Craig Scott (legal); Mazars, Graham Odlin (tax).