Muckle advises NEL on management buy-in of North East surfacing contractor Debmat
We are delighted to have advised NEL Fund Managers on a seven-figure investment to support the management buy-in management buy-out (BIMBO) of North East surfacing and civil engineering business Debmat Surfacing Limited.
The investment was made through NPIF II – NEL Debt Finance, managed by NEL Fund Managers as part of the Northern Powerhouse Investment Fund II.
Supporting the next stage of growth
Established in 1979, Debmat Surfacing provides surfacing and civil engineering services across the construction, commercial, retail and education sectors.
The investment has enabled an experienced new leadership team to acquire the business and will support its next phase of growth. Plans include expanding into complementary remediation services, growing geographically and creating new jobs across the region.
The incoming ownership team includes existing Co-Managing Director John Turner, alongside Nick Shilling, former Managing Director of Thompson's of Prudhoe, and Ian Wilkin, a chartered accountant with significant international finance experience.
Rachael Munro, investment executive at NEL, said: “Debmat is a fantastic business with a strong reputation, a skilled team and real momentum for the future. We are delighted to support this next chapter and back an experienced leadership team with ambitious plans to build on the company’s success and create further opportunities for growth. It was a pleasure to work alongside all of the advisers involved, and the collaborative approach throughout the process was instrumental in ensuring a smooth and successful transaction.”
Trusted advisors
Zoe Jackson, Louise Duffy, Louis Hutton and Kitija Martinsone from our banking team advised NEL Fund Managers on all legal aspects of the transaction.
Zoe Jackson, associate in our banking team, said: "It was a pleasure to support NEL Fund Managers on this investment and work alongside the other advisers to help deliver a successful transaction. Debmat is a well-established North East business with an excellent reputation, and this investment provides a strong platform for its next phase of growth under an experienced management team. We look forward to seeing the business continue to grow and create new opportunities across the region."
For more information, please contact Zoe Jackson on 0191 211 7993 or email [email protected].