25th July 2011
Energy management company Vickers Electronics has undergone a £7.2m management buyout in a deal backed by Enterprise Ventures, PHD Equity Partners and Yorkshire Bank Corporate & Structured Finance.
The Trafford Park-based company designs, installs and maintains energy management systems which regulate temperature in large commercial premises, such as warehouses and factories. It was founded in 1991 and has 29 employees.
The existing management team, led by David and Alison Hilton, is joined by incoming chairman Ian Cameron. David Hilton said: “[The deal] allows us to increase the rate of development of new products and move into new markets, while maintaining our core client base.”
Vickers has developed an in-house product that can monitor temperature at various points within a building and can controls heating systems to reduce fuel usage. Clients include Stagecoach, Magnet and Boots.
Wayne Thomas, investment director at EV, who led the deal, said: “We have worked closely with the management team of Vickers over the last few months to assist them in completing the MBO.
“The team has worked extremely hard to develop the company’s products and market position and the business is now, in our opinion, well positioned to benefit from the positive drivers impac
ting on its market.”
Dow Schofield Watts – Management -Financial Advisor
RSM Tenon – Vendor – Financial Advisor
Pinsent Masons- Investor – Legal Advisor