MURRAY Johnstone has backed the management buy-in of a southern
English pottery company to the tune of around #1.5m in equity funding.
The acquisition of Poole Pottery, which employs around 150 people,
from BTR is the second major deal of its kind in England that the
Glasgow-based fund managers have been involved in this year.
Murray Johnstone's London office led the financing, which totalled
around #3.7m, with additional backing from County NatWest Ventures.
Senior debt facilities were provided by Lloyds.
Peter Mills, formerly of Darlington Crystal, will lead the new
management team of the company which was established in 1873 and has
built up a reputation as one of the UK's top manufacturers of high
quality pottery.
Poole has a turnover of more than #3.5m, with much of the produce
retailing abroad. The new team also comprises a large ''buy-out''
element from existing directors.
''We were attracted to this deal by the strengths of the new
management team, the prospects for developing the business from a
popular brand name, and the unique retailing opportunity presented by a
base made up of 750,000 visitors to the pottery each year,'' said Peter
Linthwaite of Murray Johnstone.
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