Second Stage MBO Completes At Leading Vehicle Equipment Supplier
12 December 2022
Midlands-based wholesale supplier Totalkare Limited has completed a second-stage management buyout, supported by Richard Ford and Will Mason from Debrett’s Private Finance.
Totalkare underwent an MBO in 2018 and has since now completed a second buyout following impressive growth despite economic headwinds in the interim period. As part of the deal, primarily to purchase further shares, the business has also completed an acquisition, and refinanced existing debt. A funding package was provided by Shawbrook Bank, which includes a working capital facility alongside term debt.
Totalkare is a business operating across the UK supplying workshop equipment to automotive industry, including mobile and fixed lifts, servicing and testing equipment, and consumables.
On completion of this deal David Hall, CEO of Totalkare said: “Working with Debrett’s and Shawbrook was a refreshingly smooth experience. They worked closely with us to understand our needs and they developed a package that enabled us to complete our first acquisition and re-structure the business simultaneously. With their support we have exciting times ahead of us as we continue our journey.”
The business was advised on this funding package by Debrett’s Private Finance, Will Mason and Richard Ford, and John Hunter of Shawbrook Bank.
Funding expert John Hunter, Director at Shawbrook Bank said: “It has been a delight to work with the Totalkare Management Team as they continue their growth strategy. As a lender we were impressed with what they had achieved to date and their plans to consolidate into a market leader for commercial garage equipment in the UK. Another high-quality business introduced to us by Debretts who we always enjoy working with”.
Will Mason of DPF said “It has been a real pleasure to work with such a high-quality management team who despite making real strides since completing their first transaction in 2018, are not planning to slow down. I have no doubt they will continue to grow and expand their reach with the support of a quality funder in Shawbrook.”