Elland based laser cutting specialist conducts management buyout via multi-million pound facility
ThinCats, the alternative lender to mid-sized SMEs, has provided a multi-million pound facility to support the management buy-out at laser cutting and engraving machine supplier, HPC Laser Ltd, based in Elland, West Yorkshire.
HPC Laser Ltd, established in 2006, supplies an extensive range of CO2 and fibre laser engraving and cutting machines as well as CNC routers, and provides industry leading training and after sales service.
The business has supplied over 6,000 machines throughout the UK and overseas, for numerous applications including to blue chip clients in the aerospace, automotive, technology and education sectors.
Already existing shareholders CEO Neil Stewardson and MD Steve Cockerham have diversified the product range and driven strong growth in sales across HPC’s top lines.
Further investment is being made in product development, sales, and marketing to capitalise on the growing demand for higher power industrial laser machines. Neil and Steve have acquired 100 per cent of the shares.
FDD was provided for Thincats by Kevin Steven from Pierce Corporate Finance and legals were provided by Paddy Sturman at Irwin Mitchell. HPC was advised by Andy Haigh from BHP Corporate Finance and supported by Clarion Solicitors. Management legals were provided by Lester Wilson at DWF.
Neil Stewardson, CEO of HPC Laser, commented: “We are delighted to be leading the business through the next phase of its growth together with our fantastic team of industry experts. We look forward to providing even more customers with the best value products and exceptional after sales service.
“We would like to thank Ben and the team at ThinCats for their responsiveness throughout the funding process and ensuring the transaction went smoothly.”
Ben Kimball, director of business development, ThinCats, added: “It has been a pleasure to support Neil and Steve on this transaction. They have a fantastic reputation in the industry and the business continues to deliver market-leading products and services to its expansive customer base. I am excited to see what’s next for the company.”
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