Creating Shareholder Value

Elecon UK Ltd

Transaction: Current Investment

Sector: Manufacturing

Initial Investment: September 2022



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Meridian invested into Elecon alongside the Management Team following their Buy-In/Management Buy-Out and will join the Board providing strategic advice. 

Elecon has 30+ years of expertise in manufacturing thin sheet metal products for use in a number of sectors including security, automotive and retail. The company has, during this time, established an enviable base of customers and this transaction sets a pathway for the existing shareholders to transition out of the business over the next few years, whilst enabling the management team to pursue growth through a focused sales and new product strategy.

The transaction sees the existing management team partner with incoming Non-Exec. Director, Nigel Harper, who will be responsible for driving the renewed sales strategy. 

The deal was led by Prabin Sunar, supported by Michael Barcia and Philip Mettam at Meridian; David Bright and Isabelle Balch at Moore Barlow; and Cathy Revis at Fiander Tovell. Funding was provided by HSBC, supported by Trethowans and Poolemead Accountants who provided LDD and FDD respectively.

Steve Stratton, Elecon's exiting Shareholder commented, "Due to retirement after 42 years of running my sheet metal fabrication company it was so important to make the right decision concerning the future of the business. Meridian came very highly recommended and they certainly proved their commendation. Meridian’s expertise and professionalism was never doubted and steered us through a MBO enabling me to comfortably exit the company whilst the existing management team were given the opportunity to further grow the business.

Great heartfelt praise and thanks to Meridian’s Prabin for his excellence, his support and experience along with Mike and Philip, from the start to a very satisfactory completion."

Nigel Harper, incoming Non-Exec. Director commented, “We have formulated a new sales strategy that will allow Elecon to navigate the next leg of its growth journey. The Company has made significant investments in technology and infrastructure, ensuring adequate capability and capacity are available to service existing demand from both its loyal existing customer base, and onboard new customers. I am looking forward to being a part of this exciting future growth strategy.”

Prabin Sunar, Manager at Meridian commented, “We are extremely pleased to have worked together with the vendors, management and local professionals to structure and deliver a transaction to meet vendor objectives, and arm management with the necessary toolset they require to embark on an exciting growth journey. We wish management the very best and are extremely excited to be working with them through this journey.” 
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