CLB COOPERS has helped management buy out storage equipment provider Palletower in a multimillion-pound deal.
The north-west firm acted as corporate finance and tax advisors to the management team.
Previous Palletower owner Paul Hutchins, who had himself taken over the company in an MBO, said: “I have been proud to successfully grow Palletower since my MBO and take great pleasure in selling the business to the next generation of management led by Matthew Palmer. With sales increasing and an impressive list of clients, I am confident Palletower is well placed for the future.”
Palletower was established more than 40 years ago and operates from premises in Sale and Trafford Park, with manufacturing plants in China.
Financial due diligence of the deal was undertaken by Dow Schofield Watts, while the vendor’s corporate finance advice was received from Clearwater Corporate Finance.
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