Management take control at Diss based BF1 Systems
The management team of Diss based, BF1 Systems Ltd, developers of high performance electrical and performance measuring systems have undertaken a management buy-out of the business from BorgWarner Beru Systems. The buy-out has been funded by NatWest.
01 March 2011
BF1 Systems, who are based at The Technical Centre, Owen Road in Diss, are specialist suppliers of performance engineering solutions including motorsport wiring harnesses and tyre pressure and temperature monitoring systems. They supply their products into the motorsport, automotive, aerospace and marine industries and are a trusted supplier to championship winning teams in Formula 1, Indy Car, World Rally Championships and NASCAR.
The buy-out has been led by managing director, John Bailey who personally becomes the majority shareholder in the business, following this deal.
NatWest has provided a debt package to support the buy-out and also supplied the company with additional working capital facilities. PKF and Mills & Reeve acted on behalf of the business and Kester Cunningham John advised the bank during the transaction.
Speaking of the buy-out, managing director, John Bailey said: "The company is at the forefront of its industry, and the opportunity to own the business is one we could not pass up. We have all invested a lot of time in building the company to the position it finds itself in today. We continue to grow our influence and market share with some of the leading names in industry and we have a clear strategic plan for where we want to take the company in the future. This will see us invest further in our products to deliver the state of the art measuring systems that gives our customers a competitive edge in their fields."
Steve Noon, business development director, structured debt solutions at NatWest put in place the funding structure together with his colleague Graham Chapple. "BF1 Systems is a fine example of the highly specialised engineering industry we have in this country, and we are pleased to have supported John and his team in fulfilling their ambition of taking ownership of the business."
Keith Ferguson from PKF (UK) LLP added:
"Completing the management buy-out of BF1 Systems demonstrates the bank's commitment to supporting strong local companies and once again shows that corporate transactions are being completed, as the economic conditions improve."
Media Enquiries to:
Andy Cameron-Smith
UK Media Centre
RBS Communications
07796 336292
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