Cooper Coated Coil

Europe's largest producer of high quality non-stick coated steel

coopercoated.co.uk

Mobeus invested £11.5m backing the management team of West Midlands based Arc Specialist Engineering in a buyout of the diversified engineering group. Since completion, non-core businesses have been divested leaving Cooper Coated Coil (“CCC”) as the sole remaining asset, which Management plans to develop and grow through the investment period.

THE BUSINESS

CCC is Europe's largest producer of high quality non-stick coated steel, which it sells into the bakeware, printing and automotive industry.

THE DEAL

Mobeus invested £11.5m for a majority stake in Arc's secondary buyout. This was a complex deal, including a number of group companies and a Jersey based holding company, which Mobeus was able to complete on a tight timetable through the provision of a single funding solution, including debt and equity.

THE PLAN

Following the exit of Arc’s non-core businesses, Management, together with the Chairman, is implementing a rigorous operational improvement programme to free up trapped capacity and improve operating margins in CCC. Whilst the supply of high quality non-stick coated steel to the bakeware industry remains core to CCC, its technology-led approach to new product development has seen the business develop substantial sales in several other industry sectors.

THE PEOPLE

Richard Babington led the deal for Mobeus, supported by Freddie Bacon and Dominic Draysey, and has joined the Board. Mobeus introduced industry veteran Nick Templeton-Ward, who has joined as Chairman.

Information

Richard Babington
Sector:
Manufacturing
Type:
Management Buyout
Status:
Current
Date:
July 2017
Value:
£11.5 million
Leader:
Richard Babington