Synova backs £20m MK Test MBO

Alice Murray
08 September 2014

Tweet
Facebook
LinkedIn
Google plus
Send to

Synova Capital has supported the ТЃ20m management buyout of MK Test Group, a provider of automated electrical tests.

As part of the deal, Synova acquired a majority stake in the business and will support MK Test's development of new products.

Company
MK Test provides software and systems focused on automated safety testing used in the production and maintenance of all Airbus, Boeing 767, 777 and 787 aircraft models. The company also provides services for the electrical testing of specialist vehicle manufacturers including the rolling stock for the rail industry. Furthermore, MK Test develops products for testing of subsea oil and gas installations.

The company was founded in 1992 in Somerset and today sells into more than 30 countries.

People
MK Test was founded by Mike Threlfall, who will continue with the company as technical director. Former Rolls Royce vice president Paul Carter and Mark Champion have joined the company's board of directors.

Synova partner Alex Bowden also joined MK Test as a director.

Advisers
Equity – Isca Ventures (Corporate finance); Osborne Clarke (Legal); PwC (Financial due diligence); Roland Berger (Commercial due diligence).
Vendor – Michelmores (Legal).