MBO at £16m automotive supplier
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MBO at £16m automotive supplier

A £16m, 50-strong automotive products supplier based in South Yorkshire has been acquired in a management buyout (MBO).

Juratek, founded in 1995, supplies automotive aftermarket braking products for both light and commercial vehicles worldwide from its head office in Doncaster.

The company has an annual turnover of about £16m and employs more than 50 staff.

Existing shareholders Matt Robinson (managing director), Toby Whewell (sales and marketing director) and Mark Clegg (operations director) have now taken full control of the business after acquiring the remaining shareholding from outgoing chairman Allan Hooks.

Matt Robinson said: "We are delighted to have completed the acquisition of Juratek Ltd and have exciting plans to continue the growth of the company both in the UK and overseas markets. The company has seen a sustained period of growth and transition in the past 5 years and we are well placed to take advantage of the opportunities open to us. 

"I was keen for Mark and Toby to join me in the management buyout, between us we have over 70 years' experience in the Automotive Aftermarket, yet we also retain the energy and passion needed to drive the company to even greater success."

Accountancy firm Shorts, law firm Wake Smith and HSBC acted as lead advisor, legal representative and funder on the deal, respectively.

Andy Ryder, corporate finance partner at Shorts, said: "It was a pleasure to assist Matt, Toby and Mark to complete the buy-out of a business which they have been key to driving over recent times."

Chris Alsop, relationship director at HSBC, said: "Juratek have gone from strength to strength and I'm confident that Matt and his team will take the business to the next level. I am pleased to have supported them in this buy-out."

Duncan Shepherd, corporate finance director at Wake Smith, added: "We advised Matt Robinson, the existing Juratek MD, on the MBO from Allan Hooks, together with putting in place a structure involving two new minority shareholders Mark Clegg and Toby Whewell which will enable Juratek to take the next step in its ongoing development."

HSBC was advised by BHP (financial due diligence) and Irwin Mitchell (legal advice).


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