SOLD TO:

Management Buy-In

INDUSTRY:

Engineering

Based in Surrey, Walton Plating was a specialist surface treatment company with a heritage stretching back more than 60 years. The firm provided a broad range of plating and anodising services, including material evaluation and flaw detection, as well as electroplating and paint finishing.

Wishing to exit the business, the owners of Walton Plating approached Avondale and set out their objectives for the sale project. Soon afterwards, and to the owner’s great surprise, Walton’s management accountant professed interest in acquiring the business. Plans to place Walton Plating on the open market were put on hold and negotiations began with the management buy-in (MBI) candidate.

Avondale led discussions with the individual in question. A sale involving the transfer of a minority of the company’s shares was agreed, and the buyer was given a two-year window in which to increase his stake by up to 80%. The agreement also gave both parties the option to withdraw from the sale in the event of certain pre-agreed scenarios.

Given the complexity of the agreement, Avondale’s negotiation expertise proved instrumental in piecing together Heads of Terms that met both the requirements of both parties. Avondale also introduced specialist tax advisers and appropriate solicitors to produce the final sale purchase agreement. From here, the sale progressed to a swift conclusion, to the delight of both vendor and new owner.

Avondale’s team provided a clear path through the sales process for us to follow, and ensured that the negotiation phase was conducted smoothly and amicably.
William Hodges, OwnerWalton Plating

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