The management team at Brighouse-based Siddall and Hilton Products have completed a multi-million pound buyout.
Siddall and Hilton Products, which employs 74 people, produces and distributes welded wire mesh, including fencing panels, which are sold to distributors and fencing system suppliers around the world.
Recent projects have included a contract to supply fencing panels to improve security and manage the movement of people at the Port of Calais.
Siddall and Hilton has been family owned since it was founded in 1898. The deal will lead to an exit for the Siddall family and other shareholders.
Group chairman Peter Siddall said: “We are pleased to have reached an agreement with the management team which allows them to pursue their growth plans and we wish the new shareholders and their team every success. We will now focus on our core medical equipment and services businesses, including Medequip Assistive Technology and Halifax-based Sidhil.”
Managing director Neil Stewardson and finance director Ian Thurley have growth plans which combine the development of existing business channels with geographic expansion and product diversification.
Management were advised by Hamish Morrison, Andy Haigh and Will Holmes of BHP Corporate Finance, alongside legal advice from Lester Wilson, Chris Ramage and Guy Ruddy at DWF.
Tom Telford of Squire Patton Boggs advised Alistair Hood of PNC on the financing package, while Robin Skelton and David Milne of Eversheds advised the shareholders.