Maven backs MBO of Cat Tech

The investment will underpin plans for the organic and acquisitive growth of the company.

Debt
Working capital was provided by Fortis Commercial Finance.

Company
Based in North Lincolnshire, Cat Tech provides industrial services to oil refineries and petrochemical plants. The company specialises in servicing equipment containing chemical reaction catalysts and introducing processes to improve catalyst handling operations.

Cat Tech operates internationally from offices in the UK, Bulgaria, Sweden, China, Singapore and Thailand. The firm will soon appoint a chairman in addition to senior sales and marketing professionals.

People
Partner Andrew Ferguson led the deal for Maven and will join the Cat Tech board. Harps Dharmi of Fortis Commercial Finance arranged the working capital facility.

Advisers
Equity – Burgis & Bullock, Simon Chapman (Corporate finance); BDO LLP, David Billington (Financial due diligence); Gateley LLP, Simon Gill, Sarah McLoughlin (Legal); Calash, Merlyn Gregory (Commercial due diligence); IMI Insurance, Mark Ramsbottom (Insurance due diligence); Environ, Matt Royal (Environmental due diligence); Wragge & Co, Neil Pearson (Tax).
Management – SGH Martineau LLP, Richard Underwood (Legal)

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