- The Parkside Group is the subject of an MBO as founder and previous owner retires
- Directors acquire 100% shareholding of the company
- We provided an asset based lending facility to support the deal
Surrey-based aluminium architectural systems distributor The Parkside Group has completed a management buy-out. Our invoice finance team provided working capital to support the deal in the form of an asset based lending facility.
The management team have acquired 100% shareholding in the business following the retirement of its founder and previous owner Derek Cook.
Established in 1967, Parkside is one of the UK’s largest privately owned distributors of aluminium architectural systems and supplies the UK manufacturing and installer markets, trading under the market leading Comar, Axim, Alu-Timber and Duco brands.
A significant asset based lending deal leveraged against the company’s inventory and debtor book supported the deal. The facility was designed to fund the MBO of the business and then continue to provide a well-structured and flexible working capital facility to aid its continued growth.
Peter Dziurzynski, Managing Director at The Parkside Group:
"We're so pleased that the MBO has been successful. We worked alongside the company’s previous owner for many years, helping to drive forward its development and continue its growth.
We're not planning to make any major changes to the company but want to focus on its expansion, delivering a high quality service to our customers.
The finance deal we agreed has been crucial in helping us secure ownership of the company. We cannot rate the team highly enough for their support, understanding and speed of delivery. We've developed an excellent relationship and we look forward to continuing to work together in the future.
Oliver Sutton, Business Development Director (asset based lending team):
"I am pleased that we have been able to tailor make a solution that has not only supported the MBO but will also meet Parkside Group’s long term working capital requirements. We are delighted to demonstrate the value of asset based lending and how it works to unlock the value trapped in a company’s assets in order to supply capital to complete transactions like this.
"We’d like to congratulate the management team on the success of the MBO and wish them the very best for the future."
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