James Tobias Management Team
Foot Anstey advised the continuing management team of Bridgwater based James Tobias Limited, the UK's leading provider of premium storage wall solutions for offices on their recent MBO backed by Altitude Partners.
A term-loan facility was provided by NatWest Structured Finance alongside RBS Invoice Finance.
James Tobias developed a market leading position in the design, supply and fitting of premium storage wall systems, engineered to maximize the efficient use of floor space in commercial offices, showrooms and schools.
The funding allowed the management team of Phillip Jones, David McLaren and Jon Dibble to acquire the business from its retiring owner.
Partner Matthew Stoate, assisted by Ken Lewins (associate, corporate) and Nicola Allen (associate,employment) advised the management team. Matthew commented, "we were delighted to be working alongside both the team at James Tobias, and their backers Altitude Partners, both businesses and organisations that reflect our own ambitions for future growth."
Philip Jones, Managing Director of James Tobias commented, "we are enjoying strong growth by supplying a premium quality product for the offices of businesses that are household names. The advice and service we received from Foot Anstey meant that at all times in the transaction we felt guided and advised by people who really understood the MBO process and led us through it in a very pragmatic and measured way".
Altitude Partners invest up to £3m in companies requiring development capital for organic growth, growth through acquisition or to support existing management teams undertake Management Buy-Outs, such as in this transaction.