Momentum Corporate Finance has started 2012 in flying form with the completion of the £8.5 million management buyout of Aero Stanrew Limited. Aero Stanrew is the UK's leading supplier of complex electromagnetic modules and electronic systems to the aerospace sector.
The business employs approximately 170 staff, is headquartered in Barnstaple with a manufacturing site in Tunisia and has a blue chip client base including Rolls Royce, Goodrich, Thales and GE.
Momentum advised the management team, negotiating commercial terms with the outgoing vendors and arranging funding for the deal on behalf of management. Private equity was provided by WestBridge Fund Managers with HSBC providing structured debt facilities. The MBO was led by the Managing Director, Clive Scott, and his management team, who together have a combined total of 40 years within the business.