Maven backs MBO of Dantec

The deal's value was confirmed to be less than £10m. Equity was sourced from VCT funds managed by Maven. Dantec's senior management will hold a stake in the business.

The investment was motivated by Dantec's financial performance over the past few years and its global reputation in the niche market of composite hose manufacturing. Dantec has a global customer base and exports 70% of its production.

Debt
No additional debt was required to finance the acquisition. Previous facilities with RBS and Lloyds were rolled over.

Company
Dantec is a Liverpool-based manufacturer and supplier of composite hoses for the global petrochemical industry. The company has ISO 9000 status and has strengthened its financial position through increased exports to new markets, such as Australia, India, South Africa and Japan. Dantec's latest audited accounts show a turnover of £5.6m.

People
Ryan Bevington led the deal on behalf of Maven's North West deal team.

Advisers
Equity – Baker Tilly, Gary Houghton, James Wild (Corporate finance); Gateley, Paul Jefferson, Jemma Bolton (Legal); Mazars, Neil Robinson, Kevin Simmons (Financial due diligence); Oval, Jim Rutherford (Insurance due diligence); Calash (Commercial due diligence).
Management – Baker Tilly (Corporate finance); Turner Parkinson, James Sheridan, Andrew Sturge, David Hayes (Legal).

 

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