Bristol corporate expertise has helped the successful management buyout (MBO) of a Welsh specialist handling equipment firm.
Accountants Grant Thornton’s Bristol-based corporate finance team and lawyers from Bristol law firm Osborne Clarke advised on sale of Mangar International, a world leader in inflatable lifting and handling equipment for the elderly, disabled and emergency services.
Mangar employs 56 people at its headquarters in Presteigne, Powys, and a sales office in Stockport. Last year it turned over £6.3m turnover. The firm was founded by David and Francesca Garman in 1981 and distributes its products to care providers, local authorities, ambulance services and care homes.
Mark Naughton, pictured, head of corporate finance at Grant Thornton in Bristol, advised the vendors, along with colleagues Chris Burgess and Harry Walker. 
Funding for the MBO was provided by YFM Equity Partners, who were advised by Matthew Lewis and Alison Johnson at Osborne Clarke. Financial details of the deal have not been undisclosed.
Yorkshire Bank is providing loan facilities and working capital to Mangar’s management team.
Mangar managing director Andrew Barker said: “Our products help people retain their independence and dignity for as long as possible as well as reduce the strain and injury risk for carers.”
The deal was introduced to YFM Equity Partners by Birmingham-based corporate finance firm, Cattaneo.
Other legal advisers involved in the deal included Eversheds’ Birmingham office, which acted for the management team, Birmingham firm Gateley, who advised Yorkshire Bank, and Capital Law in Cardiff, who advised the vendors.
Accountants Baker Tilly’s Birmingham office provided financial due diligence for YFM Equity Partners, while West Midlands-based ParisiTax provided tax advice to management.
