Rollits advise on MBO of £27m caravan company
Hull commercial law firm Rollits has
advised four members of the senior management team at
Coachman Caravan Company, a £27m-turnover business, on its MBO deal
to keep the business in the family.
Managing director Elliott Hibbs led
the management buyout, as he takes over from his father Jim Hibbs
who founded the company 30 years ago along with business partner
The first Coachman caravan was built
in a small factory in Hull in 1986. Since then, it has grown into a
£27m-turnover firm - seeing growth in domestic sales in recent
years due to the increasing popularity of the 'staycation'.
The MBO deal for the caravan
manufacturer was supported by a finance package from HSBC.
The Rollits' team was led by Corporate
Partner Nasim Sharf working with Chris Crystal (property) and Ed
Elliot Hibbs comments. "Being
involved in a buyout was a new experience for all the MBO team. But
Nasim Sharf and the Rollits team made the process seem simple and
Nasim Sharf of Rollits said "It was a
pleasure to assist the team at Coachman Caravans in the MBO
and we wish the team every success in this new stage in the growth
and development of their company."
HSBC were advised by Nick Scott at
Andrew Jackson Solicitors and sellers by Andrew Tarbutt at
Posted on: 14/12/2016
This article is for general guidance only. It provides useful information in a concise form. Action should not be taken without obtaining specific legal advice.
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