• Home
  •  
    Regions
    • Europe
    • UK & Ireland
    • DACH
    • Nordic
    • France
    • Southern Europe
    • Benelux
    • CEE
    • Asia
  •  
    Deals
    • Buyouts
    • Venture
    • Exits
    • Refinancings
    • Build-up
    • Turnaround
    • Secondaries
    • Advanced deals search
  •  
    Funds
    • Buyout
    • Venture
    • Mezzanine
    • Debt
    • Funds-of-funds
    • Secondaries
    • Fundraising pipelines
    • Advanced funds search
  •  
    GPs & LPs
    • GP profiles
    • LP profiles
    • GP news
    • LP news
    • Sponsors search
    • LPs search
  •  
    Secondaries
    • Deals
    • Funds
    • News
    • Analysis
  •  
    People
    • People moves
    • Analysis
    • In Profile
    • Q&A
    • Videos
    • Comment
  •  
    Analysis
    • In Profile
    • Fundraising
    • Q&A
    • Comment
    • Videos
    • Podcast
    • Reports
    • Data Snapshots
  •  
    Unquote Data
    • Deals search
    • Exits search
    • Funds search
    • Sponsors search
    • Advisers search
    • LPs search
    • League tables
    • Reports
  • Sign in
  • Sign in
    • You are currently accessing unquote.com via your Enterprise account.

      If you already have an account please use the link below to sign in.

      If you have any problems with your access or would like to request an individual access account please contact our customer service team.

      Phone: +44 (0)203 741 1137

      Email: Georgina.Lawson@acuris.com

      • Sign in
     
      • Newsletters
      • Account details
      • Contact support
      • Sign out
     
  • Follow us
    • Twitter
    • LinkedIn
  • Free Trial
  • Subscribe
Unquote
Unquote
  • Home
  • Regions
  • Deals
  • Funds
  • GPs & LPs
  • Secondaries
  • People
  • Analysis
  • Unquote Data
  • You are currently accessing unquote.com via your Enterprise account.

    If you already have an account please use the link below to sign in.

    If you have any problems with your access or would like to request an individual access account please contact our customer service team.

    Phone: +44 (0)203 741 1137

    Email: Georgina.Lawson@acuris.com

    • Sign in
 
    • Newsletters
    • Account details
    • Contact support
    • Sign out
 
Unquote
  • Buyouts

Endless backs Sewtec Automation MBO

  • Alice Tchernookova
  • Alice Tchernookova
  • @alicetcherno
  • 15 August 2017
  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  

Leeds-based private equity house Endless has backed the management buyout of automated manufacturing and packaging systems business Sewtec Automation.

The buyout, which sees Endless become majority owner, was led by Sewtec's management team.

The main vendor in the deal was identified as Bernard John Meehan, who was previously a director and will stay on as consultant. According to publicly available information, Meehan held 40% of Sewtec's share capital prior to the buyout, while other members of the Meehan family held a further 50%. Other management team members held the remainder. 

Sewtec Automation

  • DEAL:

    MBO

  • LOCATION:

    Dewsbury

  • SECTOR:

    Industrial machinery

  • FOUNDED:

    1982

  • TURNOVER:

    £22m

  • STAFF:

    70

Meehan said he picked Endless over a number of other potential backers. The GP acted as sole external investor in the deal, with no debt providers involved, a source familiar with the matter told unquote".

Endless is currently investing from Endless Fund IV, which closed on £525m in 2014. The vehicle seeks to acquire mid-market businesses with a turnover within the £10-500m range, investing equity tickets of £10-80m.

Sewtec is the 11th acquisition completed by Endless this year and the fourth management buyout. The GP said it aimed to include more traditional management buyouts in Fund IV's investment strategy, adding that 2017 could mark a record year for the firm, both in terms of new investments and exits.

Sewtec will now focus on investing in research and development, and attracting, training and retaining specialist engineers. 

Company
Launched in its current form in 1982, Sewtec was originally the design and development department of sewing machines manufacturer Singer Corporation. The business currently focuses on automated manufacturing and packaging systems for a customer base operating in the confectionery, food, pharmaceutical, personal care and tobacco sectors.

Based in Dewsbury, West Yorkshire, Sewtec's machinery ranges from simple conveyor systems to fully automated and robotic machines. With a 70-strong team, the company currently generates £22m in revenues, with exports accounting for 85% of its sales. 

People
Endless
– Andrew Ross (director); Darren Forshaw (founding partner).

Advisers
Equity – Squire Patton Boggs (legal); KPMG (tax).
Vendor – Mazars Corporate Finance (corporate finance); Gordons (legal).

  • Tweet  
  • Facebook  
  • LinkedIn  
  • Google plus  
  • Send to  
  • Topics
  • Buyouts
  • UK / Ireland
  • Industrials
  • United Kingdom
  • Endless
  • KPMG
  • Mazars

More on Buyouts

Clinical trials and biotechnology
Permira to take Ergomed private for GBP 703m

Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO

  • Buyouts
  • 04 September 2023
EMEA Public to Private M&A
Change of mind: Sponsors take to de-listing their own assets

EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater

  • Investments
  • 04 September 2023
HR software solutions providers
Main Capital’s Assessio to be sold to Pollen Street

Recruitment software company tripled in revenue under Main Capital’s ownership

  • Buyouts
  • 25 August 2023
Ice cream
Exponent divests ‘significant' stake in Meadow to Canadian investor

Since 2018, GP has diversified food ingredients company's focus beyond commodity dairy

  • Exits
  • 22 August 2023

Latest News

Fund closes in US dollars
  • Funds
Stonehage Fleming raises USD 130m for largest fund to date, eyes 2024 programme

Multi-family office has seen strong appetite, with investor base growing since 2016 to more than 90 family offices, Meiping Yap told Unquote

  • 05 September 2023
Clinical trials and biotechnology
  • Buyouts
Permira to take Ergomed private for GBP 703m

Sponsor deploys Permira VIII to ride new wave of take-privates; Blackstone commits GBP 200m in financing for UK-based CRO

  • 04 September 2023
Public sector software
  • Exits
Partners Group to release IMs for Civica sale in mid-September

Sponsor acquired the public software group in July 2017 via the same-year vintage Partners Group Global Value 2017

  • 04 September 2023
EMEA Public to Private M&A
  • Investments
Change of mind: Sponsors take to de-listing their own assets

EQT and Cinven seen as bellweather for funds to reassess options for listed assets trading underwater

  • 04 September 2023
Back to Top
  • About Unquote
  • Advertise
  • Contacts
  • About Acuris
  • Terms of Use
  • Privacy Policy
  • Group Disclaimer
  • Twitter
  • LinkedIn

© Merger Market

© Mergermarket Limited, 10 Queen Street Place, London EC4R 1BE - Company registration number 03879547

Digital publisher of the year 2010 & 2013

Digital publisher of the year 2010 & 2013