Case Study: Diametric

Deal size:
Undisclosed
Transaction:
Management buy-out
Sector:
Manufacturing
Deal completed:
October 2015
diametric_3
About the deal

Meridian Corporate Finance (“Meridian”) advised the management team of Diametric Technical Limited (“Diametric”) on the purchase of the company from the exiting shareholders.

UK’s leading badging and branding specialists Diametric, which counts the likes of JaguarLand Rover, Triumph Motorcycles and Hasselblad among its clients has been bought by sales and marketing director Graham Steele and general manager Steve Watts. 

Established in 1981 with headquarters in Southampton, Hampshire as well as its own manufacturing base on the Isle of Wight, Diametric is recognised in a wide range of industry sectors as the "first choice" supplier for all innovative, high quality, bespoke, commercial badges, labels, nameplates and fascias.  The management buy-out will pave the way for renewed growth of the already booming business.

Commenting on the deal process Graham Steele who has been with Diametric for over 13 years says “I cannot thank Mike, Philip and the Meridian team enough for the support and guidance they provided during our MBO. The financial structure of the deal was key to getting it across the finish line, so a strong management team was crucial. After initially being advised that private equity was the only option to support the purchase, along came Meridian with an arsenal of solutions to satisfy both us and the vendors. From our initial meeting through to deal day, nothing was too much trouble. If you’ve not yet signed on the dotted line, I would thoroughly recommend you meet with the Meridian team to ensure you have the best deal on the table.”

Meridian manager Philip Mettam who led the transaction commented “The Diametric deal was a great example of a locally sourced and advised deal in the SME sector. From the outset this was a transaction that both parties wanted to succeed but that required careful planning and advice from a number of local specialists to structure and deliver it in a format that was acceptable to all the stakeholders.”

The transaction and ongoing support of the local NatWest and RBS teams allows Graham and Steve to take the company into its next phase of growth and build on the great reputation they have already built.”
 

1981

Established

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The financial structure of the deal was key to getting it across the finish line, so a strong management team was crucial.

Graham Steele , Diametric