Rollits advise on MBO of £27m caravan company
Hull commercial law firm Rollits hasadvised four members of the senior management team atCoachman Caravan Company, a £27m-turnover business, on its MBO dealto keep the business in the family.
Managing director Elliott Hibbs ledthe management buyout, as he takes over from his father Jim Hibbswho founded the company 30 years ago along with business partnerGeorge Kemp.
The first Coachman caravan was builtin a small factory in Hull in 1986. Since then, it has grown into a£27m-turnover firm - seeing growth in domestic sales in recentyears due to the increasing popularity of the 'staycation'.
The MBO deal for the caravanmanufacturer was supported by a finance package from HSBC.
The Rollits' team was led by CorporatePartner Nasim Sharf working with Chris Crystal (property) and EdHeppel (employment).
Elliot Hibbs comments. "Beinginvolved in a buyout was a new experience for all the MBO team. ButNasim Sharf and the Rollits team made the process seem simple andseamless."
Nasim Sharf of Rollits said "It was apleasure to assist the team at Coachman Caravans in the MBOand we wish the team every success in this new stage in the growthand development of their company."
HSBC were advised by Nick Scott atAndrew Jackson Solicitors and sellers by Andrew Tarbutt atGosschalks.
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.