Member Article

MBO for rubber company Trafford Rubber Products

Trafford Rubber Products, a rubber company based in Trafford Park, has undergone management buy out (MBO) and plans to continue growing.

The MBO was advised on by lawyers at Ward Hadaway in Manchester.

A five-strong management team with 60 years’ combined experience led the buy-out, which secures the jobs of Trafford Rubber Products’ 30-strong workforce.

Established in 1986, Trafford Rubber Products is a rubber compounder whose products are used in a range of applications including roller coverings for paper, steel mills, tank lining for road tankers, hoses for pneumatic equipment, aircraft chocks and roof linings.

Most of the company’s products are developed, manufactured and tested at its own on-site laboratory and it has customers in 20 different countries including Finland, Saudi Arabia, the United Arab Emirates, Estonia, South Africa, Poland, Sweden and Denmark.

Trafford Rubber Products Commercial Director, Chris Brindle, who spearheaded the MBO, said: “As a management team we were delighted to put forward a firm offer for the business.

“Trafford Rubber Products is a strong and expanding company employing skilled labour in its manufacturing facility in Trafford Park.

“The UK economy needs businesses like Trafford Rubber to thrive, to export and to provide not only continuation of employment for existing employees but opportunities for apprentices who wish to develop their skills in polymer science, marketing and other areas.

“There is a great tradition of scientific innovation in Manchester and a great tradition of manufacturing – for example, many of our machines were built locally.

“We feel that we have taken on the responsibility to do our bit to carry on these traditions for future generations.”

Paul Johnson, Corporate Partner and Rachael Clarkson, Corporate Associate, in the Manchester office of law firm Ward Hadaway, led the legal team advising Trafford Rubber Products’ management team on the MBO. Ward Hadaway’s Head of Banking and Finance Julie Harrison advised the management team in connection with the acquisition funding package.

Paul said: “We are delighted to have assisted Les, Chris and the team on the successful management buy-out at Trafford Rubber Products.

“It is clear that they have a real vision and passion for the company which I am sure will stand them in very good stead as they look to further expand the business.”

Funding for the MBO was provided by Shawbrook, who were advised by Bermans, supported by Praetura Capital.

Corporate finance advice to the MBO team was provided by Mark Jenkinson at Plutus LLP. Ian Riggs and Mercy Mba of Hill Dickinson provided legal advice to the sellers.

Trafford Rubber Products is continuing to use its auditor, John Stone of Thompson Jones, who was instrumental in putting the deal together.

This was posted in Bdaily's Members' News section by Sophia Taha .