Grant Thornton advises LDC (Managers) Limited Adviser to LDC (Managers) Limited on their backing of the MBO of PAW Holdings.

September 2016
LDC (Managers) Limited
PAW Holdings Limited
Adviser to LDC (Managers) Limited on their backing of the MBO of PAW Holdings.
£undisclosed
Grant Thornton team
  • Nick Gillott
    Nick Gillott
    Head of Industrials, Corporate Finance Advisory
Industrials
Buy side
Corporate finance
UK

We are delighted to have advised LDC (Managers) Limited on their backing of the MBO of PAW Holdings.

Founded by Alan Walker in 2001, PAW Structures ('PAW') designs, manufactures and installs pre-engineered light gauge steel building systems. 

PAW specialises in residential apartments, student accommodation, colleges, hotels, retirement homes and other mid-rise structures. 

In its most recent financial year, the business achieved revenues of c£23 million, compared to c£16 million in the previous year. 

Based in Skipton, North Yorkshire, PAW employs over 80 people and has facilities in Leeds, Evesham and Glasgow.  

The MBO was led by CEO Roger French, construction director Paul Smith, commercial director James Walker and technical director Andrew Walker. 

We provided full buy-side support to LDC, including assistance in the preparation of a business plan and financial model, exit review, deal structuring, debt finance and other acquisition advice. 

Following LDC's investment, the management team plans to further invest in its manufacturing capabilities and service offering, enabling PAW to continue to meet the demands of its key clients. 

LDC backs ambitious management teams from UK based companies seeking between £2 million and £100 million of equity. 

Against a backdrop of uncertainty due to the EU referendum, we used our extensive contacts in the sector to provide third party comfort on industry activity levels for new build projects. 

Testimonial

The Grant Thornton team provided sound, pragmatic advice throughout the process. They were highly responsive to our needs and we appreciated their drive and commitment to resolving key issues and getting the deal over the line.

Dale Alderson Investment Director, LDC (Managers) Limited

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