
Endless backs Qualter Hall MBO from Waagner-Biro
Special situations investor Endless has supported the management buyout of UK-headquartered engineering business Qualter Hall & Company from Austrian trade vendor Waagner-Biro.
The deal is the second investment made by Enact Fund II, which held its final close on £30m in June 2019. The vehicle invests up to £5m in UK-based SMEs that are facing capital constraints, strategic challenges or operational issues.
Endless partner Chris Cormack will take a seat on the Qualter Hall board of directors as part of the deal. Former HSBC deputy head of commercial banking Wayne Bowser has also been appointed chairperson at the business.
Company
Founded in 1860 and headquartered in Barnsley, South Yorkshire, Qualter Hall is a civil engineering, manufacturing and mining company. The business has a headcount of around 120 and has worked on projects including the Scale Lane Bridge on the River Humber at Hull, the moving bascule bridge in Indonesia and fixed bridges in Belize. It also undertakes ongoing work on the Thames Barrier.
People
Endless – Chris Cormack (partner).
Qualter Hall – George Orton (managing director).
Advisers
Equity – Womble Bond Dickinson, Simon Pilling, James Cook, Catherine Willis (legal); Tax Advisory Partnership, Russ Cahill (tax).
Management – Park Place Corporate Finance, Ben Peacock, Tom Kaye (corporate finance); Gateley, Sandip Khroud, Tamanna Keir (legal).
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