Springboard Advise on the Secondary Buy Out of ELE Advanced Technologies
November, 2019 - England
Springboard Corporate Finance is pleased to announce that it has advised mid-market private equity investor LDC and Newco on the secondary buy-out of ELE Advanced Technologies, with working capital and capex facilities provided by Lloyds Bank.
Headquartered in Colne, Lancashire, ELE is a leading manufacturer of specialist components for aerospace, industrial gas turbines and commercial diesel sectors, with clients including Rolls Royce, Safran, Siemens, GE Avio, GE Power and MAN Diesel & Turbo.
ELE's precision engineering capabilities enable it to produce complex parts for turbine blades, vanes and compressor blades and it also supplies turbo charger components to the automotive sector from its manufacturing plant in Trencin, Slovakia.
LDC backed the current management team led by CEO Manesh Pandya, Finance Director David Stanley, Technical Director David Dudley, Head of Manufacturing Adam Forsyth and Head of Sales Sundeep Ammineni. The deal marks an exit for Albion Capital and Maven Capital Partners.
Manesh Pandya, CEO of ELE said "Our precision engineering capabilities give us a unique proposition that has enabled us to grow significantly and tap into global demand for our specialist components. With LDC's support we can accelerate our growth ambitions and seize new opportunities to increase our market share even further."
Springboard Partner Justin Sparks and Director James Bailey advised LDC and Newco on the deal. Justin commented "Manesh and his team have developed an excellent UK-based precision engineering business. With the support of LDC and Lloyds Bank, the business is well positioned to grow in the UK and globally and benefit from the increasing demand for its products."
ABOUT SPRINGBOARD
We are a market leading independent minded corporate advisory firm focused on providing strategic, commercial and financial advice and support to a range of clients. We focus exclusively on the following services:
• Acquisitions - supporting corporate and management teams – identifying targets and executing deals
• Disposals - Full or partial business sales and exits
• Raising finance - working capital or development capital – typically debt or private equity/venture capital
• Management / Retained advisory - strategic, commercial and financial support
