ICFG UK advised Wheelwright on their MBO
|Deal Type||Mergers & Acquisitions|
|Buyer||Arbuthnot & Caple|
Originally established in 1980, Kent-based Wheelwright are the UK’s leading alloy and steel wheel distributors, offering a European-wide logistics and delivery service from their 14 national and 2 international logistics facilities. With over 40 years’ experience in the alloy wheel and tyre business, Wheelwright have a well-established reputation as the leading supplier in the UK.
Formerly a subsidiary of the Alcar Group of companies, Wheelwright are ideally placed to offer an unrivalled standard of product, service, marketing support and after-sales support. With a market leading offering of internally developed brands in the aftermarket sector, including Europe’s leading space saver wheel, Road Hero, the company is at the early stages of a growth trajectory.
The MBO was led by David McMillan (Sales Director), Thierry Hooker (Operations Director) and incoming Finance Director Malcolm Thomson, the transaction was funded by a combination of debt products from Arbuthnot and Caple which includes asset-based lending and term loans.
HMT, with their expertise of Mid-Market debt and equity funders were mandated as lead advisers to the management team in negotiating, funding and executing the acquisition of the business to enable them to deliver upon their ambitious growth plans as a new ownership team going forwards. HMT identified Arbuthnot and Caple as the right combination of funders to support management in acquiring the business whilst retaining working capital facilities to enable them to exploit their market leading product range.