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Spinlock Ltd
Transaction: Management Buy-Out
Sector: Marine
Completed: October 2015
Meridian advised the management team of Spinlock Limited on their management buy-out for an undisclosed consideration.
Chris Hill, Peter Kirby and Caroline Senior former managers of Spinlock will take over from Rodney Hogg former Managing Director as the new owners. Rodney will remain with Spinlock as a non-executive director.
Spinlock a manufacturer of marine hardware is recognised as a world expert in rope holding. Based in Cowes, UK the “Home of Yachting”, Spinlock has over thirty years experience of designing and manufacturing rope holding equipment for sailing boats from dinghies to the largest super yachts.
Spinlock have also developed their own deckware range which includes Deckvest, a leading lifejacket harness.
Rodney comments “With over 50 years experience between them, Chris, Peter and Caroline will make the perfect team to lead the Company to further growth and success. They are determined to maintain the distinctive personality of Spinlock as Technology Leader and global Brand of the highest quality.
Chris and Caroline comment “It was obvious that Meridian completely understood the challenges that an MBO would place on us and were very comfortable with their guidance in forming an expert and like-minded group needed to complete the process.
We wish to thank Meridian for their support and understanding throughout. If we had to do it again we would appoint the same team of advisers. We have been really pleased of how Meridian and the Trethowans team kept the deal on track and remained positive."
