UK - LDC backs MBO of Icon Polymer

Management, led by managing director Tim Pryce and financial director Shaun Finn, will acquire the business from retiring founder Richard Gogerty. Lloyds TSB Corporate Markets acquisition finance team provided debt to support the transaction.

Retford-based Icon Polymer develops, manufactures and supplies specialist technical rubber products to a broad customer base including major organisations in the aerospace, defence, transport and energy industries. The business, which was founded in 1999, has a turnover of £20m and employs over 230 people at its manufacturing sites in Retford and Burton-on-Trent.

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• UK / Ireland