Quantum Profile Systems has announced it has undergone a management buy-out backed by a £500,000 loan from Mercia Fund Managers.
The deal will give control of the business to the management team consisting of the Managing Director Clive Bowen, Operations Director Simon Crossley and Sales Director Steve Kean.
The company, which employs 90 staff at its headquarters in Oldham, is a supplier of contract flooring accessories and plastic extrusion products to builders’ merchants and window manufacturers.
Quantum manufactures its own brands including the Quantum range of stair edgings, treads and flooring accessory products, the Dacatie range of cavity wall closers and fire barriers, the Qwood range of timber composite glazing beads and QLean bespoke profile extrusions.
Established over 50 years ago, the company underwent a management buy-out in 2000 in which Clive also took part. In the latest deal, he and his two fellow directors have acquired the interests of a range of retired, retiring and inactive shareholders.
Clive said: “Quantum’s success has been due in no small part to our team of loyal employees. We are delighted to conclude this deal which will allow us to take the business forward and secure the long term future for all our staff.”
Mercia is said to be one of the few loan providers able to fund management buy-outs in small firms. Its EV SME Loans fund provides loans between £150,000 and £1 million to established and growing SMEs across the UK.
Chris Pestell of Mercia Fund Managers commented: “In a space of just 15 years, Quantum has moved from being a traditional mass manufacturer to a modern company where the ‘lean approach to business’ is embraced by every employee. With continuous improvement in efficiency and ongoing investment in IT, sales and profitability have been growing. This funding will allow Clive and his fellow directors to take full control of the business and continue its success story.”
Signia Corporate Finance also provided corporate finance, deal structuring and fundraising advice to the company, while Weightmans provided legal advice to Mercia Fund Managers and Lloyds Bank provided an invoice finance facility.
