Devon based XYZ Machine Tools, one of the UK’s most well-known machine tool businesses, has been acquired by its management team.
The deal was led by Operations & Finance Director Chris Hellier, and Managing Director Martin Burton, and supported with funding from HSBC.
“Isca Ventures played a key role in the MBO of XYZ in 2016 and have been there for the journey since. Always quick to respond, they played a pivotal role in the planning and execution of this secondary MBO and I have no hesitation in recommending their services to others,” said Nigel Atherton, founder and former majority shareholder.
“We are keen to build on Nigel’s legacy and are very excited about the future prospects for the company. It is very much business as usual for XYZ which means continuing to prioritise customer service and all that that entrails,” said Chris Hellier.
Isca Ventures acted as the lead corporate finance adviser on the transaction.
Legal support was provided by Clark Wilmott (management team), TLT (bank) and Stephens Scown (vendors). Financial due diligence was undertaken by Bishop Fleming.
