Greybull agrees to Arc Specialist Engineering MBO

Greybull Capital LLP has agreed to a management buy-out of Arc Specialist Engineering.

Arc’s existing management team headed by Andy Richardson, and supported by Mobeus Equity, will run the business.

Greybull has described Arc as a global market leader in the production of high quality non-stick coated steel for the bakeware industry through its Cooper Coated Coil (CCC) division, in addition to being the UK market leader in the production of rolled steel products for the fenestration industry through its EWS division.

Greybull acquired Arc in April 2013 out of administration when it was an AIM-listed business called Metalrax plc. The acquisition secured the jobs of around 400 employees and, claims Greybull, has since provided the required support to turn tbe business around. Part of the turnaround plan was for the company to re-focus on its core businesses and dispose of non-core units. Strategic acquisitions were made to further strengthen the company’s offering to its customers.   

Greybull partner Nathaniel Meyohas said he was pleased with the successful outcome for what he called an historic UK manufacturer, referencing Greybull’s 2013 acquisition and turnaround of the business.

“This is testament to Arc’s dedicated team, as well as a demonstration of Greybull’s ability to bring its expertise to bear to achieve the right outcome,” he said.

According to Meyohas, Greybull invested time and resource over its four-year ownership period and provided the necessary support to turn around what he called ‘this fundamentally strong business’.

“We are delighted that with the support of Mobeus, the current management team will be taking the business forward, further building on the strong foundations put in place in recent years,“ he added.

Andy Richardson, CEO of Arc Specialist Engineering, said that the past four years [under Greybull’s direction] had seen a transformation of the business into a profitable concern.

“We are immensely excited about the next stage of our journey, which would not have been possible without Greybull’s guidance and support. We are very grateful for everything which they have committed to the business.”