Manchester Firm Set To Take On Europe

September 2004

Crosland VK Limited, a major supplier of specialist machinery to the packaging and print finishing industries, has been acquired by a Management Buy-In team spearheaded by former Quiligotti Director John Briggs and Crosland's former Head of Sales Steven Waterhouse.

With 26 employees, Crosland is the UK 's largest independent supplier of die cutting machinery, and can trace its routes back to 1872. The company boasts unparalleled levels of after-care service and has secured European distribution rights to a range of automated machines which will facilitate future growth plans.

The new management team says the Manchester-based company is now poised to exploit both existing and new European markets from its Trafford Park HQ.

Rick Sheldon of SG Corporate Finance who was lead adviser to the team said: "Crosland, as both a company and leading brand, enjoys an excellent market reputation and there is no doubt that its existing and future customers will benefit from the new management team's enthusiasm, dedication and commitment to take the company onto a new platform for success. Exciting times are ahead."

John Briggs, explained: "This is a company that we have been aware of for some time and through the excellent management of the former owner Vernon Shimwell, it is well positioned to grow. We respect that legacy and are intent on taking the business to new heights. Vernon himself has shown confidence in the team by retaining an equity stake in the Group."

Bank of Scotland financed the deal for which Peter Smith commented: "This is an experienced team acquiring a well run business with excellent prospects for growth. We look forward to supporting the team and helping them achieve their ambitions."

Philip Treanor of Pannone advised the vendors on the transaction and Barney Leaf from Cobbetts provided legal advice to the MBI team.

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