MBO AT £12M-TURNOVER GLASS PACKING FIRM

A £12m-turnover business whose 400-plus workforce provides specialist labour and inspection services to the drinks and glass container manufacturing industries, including high-profile companies such as Allied Glass, Heineken and ABInBev, has been acquired in a management buyout (MBO).

Yorkshire Repak, headquartered in Barnsley, has been purchased by its senior management team led by managing director Terry Foy after the original shareholders, Neil and Diane Askham, had opted to step back from operational involvement 18 months ago.

Roger Esler and Paul Herriott at Dow Schofield Watts advised the vendors and led the refinancing, with Julie Bowler at HSBC South Yorkshire providing new funding to support the deal. Emma Greenwood of Shulmans provided legal advice to the buyout team and Nick Goulding of hlw Keeble Hawson acted for the vendors.

Yorkshire Repak provides its services to the drinks and glass container manufacturing industries across the UK and Europe. As well as its Barnsley site, the company also has facilities in St Helens and Cumbernauld alongside an operation in Europe.

Managing director and new majority shareholder Terry Foy said: “Having been with the company for over 26 years, I am still passionate about the business and my main priority was to ensure that our customers continued to receive the excellent standard of service they have come to expect.”

Richard Feltham added: “Yorkshire Repak is a highly successful and specialist service business and Terry Foy is well known and highly respected in the industry.

“All parties were keen for the business to continue to run smoothly throughout the management buyout, so we received a great deal of support from the buyers and the vendors.

“We have a longstanding relationship with Yorkshire Repak’s new owners and the outgoing shareholders, which put us in a good position to work collaboratively with all parties, essential in a deal like this.”