YFM backs Leengate Valves MBO

Debt for the deal was provided by HSBC. YFM was introduced to the deal by Dan Gray and Kevin Davies at BHP Corporate Finance in Sheffield.

Following its spinout, the company will focus on expanding its customer base in the UK and Ireland and will look to increase staff numbers.

Company
Derbyshire-based Leengate is a wholesaler of industrial valves to resellers in the gas, water and industrial markets. The company also supplies engineering actuation and automation packages.

The company employs 21 people and generates around £7m of turnover annually.

People
David Bramwell will join Leengate as non-executive chairman. The company is led by managing director Steve Pickering, commercial director Leigh Pickering and sales director Mick Loseby. Mary Broadhead is an investment director at YFM.

Advisers
Equity – Hill Dickinson, Paul King (Legal); BDO, Andrew Ryder, Ban Holland (Financial due diligence); MCI, Robin Legget (Commercial due diligence); Quinn Partnership, Mary Henderson, Mike Stiles (Management due diligence).
Management – BHP Corporate Finance, Don Gray, Kevin Davies (Corporate finance); HLW Keeble Hawson, Paul Trudgill, Sarah Riley (Legal).
Debt – Irwin Mitchell, Dean Gormley (Legal).

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• Topics
• Buyouts
• UK / Ireland
• Industrials
• YFM Group
• HSBC
• United Kingdom