| Date: | December 2019 |
|---|---|
| Project: | Management Buyout |
| Sector: | Manufacturing |
| Role: | Lead advisor to the management team |
Forward Corporate Finance is pleased to announce the purchase of Essex-based Maycast-Nokes by its management team Steve Wallings (Managing Director), Dave Blower (Sales Director) and Derek Redgwell (Finance Director) with support from Barclays. Forward acted as lead advisor to management, acquiring the business from Colin and Lyn Richer, who themselves have owned the business since 1985.
With history dating back to the 1950’s when it was known as Evans Foundry, Maycast-Nokes is a leading manufacturer of high-quality precision castings. The Company is proud of its position as one of the most comprehensive, single-site suppliers of non-ferrous castings in the UK. Operating from a modern site in Halstead, Essex the company is fully equipped with the latest technology to produce machined investment castings, precision sand castings and gravity die castings of the highest standard.
The company’s success over the past 50-plus years has been as a result of responsible, sustained continual growth, and today, the company employs 129 people. The company has a strong ethos of supporting apprenticeships. In 2016 they became the first foundry to be listed in the top 100 national apprenticeship employers list, and in 2018 reached the UK finals of the National Apprenticeship Awards in recognition of its long-term commitment to skills training, both in the East of England region as well as the UK foundry industry.