Management team completes Bestobell Valves' buyout

Directors Mark Henley, John Waddington and Marie Bellamy acquired three divisions of the business from owners Flow Group for an undisclosed sum.

Bestobell Valves and Bestobell LNG both produce high-performance valves for industry, whilst the UK operation of Conflow specialises in mining components.

The team also purchased the businesses' US and Indian based operations.

Sheffield-based Castle Square Corporate Finance secured funding for the deal, while legal advice came from the corporate team at DLA Piper in Sheffield.

NatWest provided funding for the deal, along with local investors YFM Private Equity.

Bestobell employs around 80 people in the UK and turnover of the UK and US operations last year totalled in excess of 12m.

The buyout will allow the management team to further grow and develop the Bestobell business in the UK, with the full support of Flow Group.

Richard May, of DLA Piper, said: "This was a complex transaction involving various divisions and subsidiaries of Flow Group.

"However, local advisers have been able to secure a successful outcome for the management team, which is now able to drive forward the operations of this specialist local manufacturer."