Matrix Private Equity backs MBO of EMaC

The deal was initiated by Baker Tilly.

The new capital will be used for product and platform development across a wider range of support services. The enterprise value is thought to be less than £15m.

Debt
Yorkshire Bank provided a £4m senior debt package.

Company
EMaC Limited is a provider of outsourced motorvehicle service plans. The plans allow consumers to fix the cost of servicing a vehicle for a period of two or three years to a spread cost instead of a lump sum payment. They are made available to consumers through the motor vehicle sector and are interest free.

The company is based in Crewe, UK, and has 55 employees. EMaC manages over 350,000 plans throughout the UK. Last year's turnover was approximately £5m.

People
Ashley Broomberg led the deal on behalf of Matrix. Angela Barrow is the managing director of EMaC.

Advisers
Equity - Wragge & Co, Andy Stylianou (Legal); Grant Thornton, Jonathan Steed (Financial due diligence); Armstrongs, Tom Raymond (Commercial due diligence); Charteris, David Sharp (IT due diligence).
Company - Baker Tilly, Hamish Morrison, Andy Haigh (Corporate finance); Irwin Mitchell, Paul Johnson (Legal).
Management - Irwin Mitchell, Paul Johnson (Legal).

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• Topics
• UK / Ireland
• Buyouts
• Support services
• Baker Tilly
• Mobeus Equity Partners
• Grant Thornton