Corporate finance specialist, Dundee-based DC Consulting, has arranged and managed the successful Buy-in and Management Buy-Out (BIMBO) of Cedarstape Ltd, the rapidly growing manufacturer and distributor of adhesive tape and associated products. The seven-figure deal sees the appointment of four new directors to the board of the Tayside business, which currently employs 55 staff. The new board believes the transaction will re-position the company to take full advantage of new markets and product offerings over the short to medium term.
“This is a very exciting deal for DC Consulting,” says company director Angus Hay. “We have worked with Cedarstape for some years, providing board level advice as the company has grown at a rapid rate. This is a substantial, successful business in Tayside and we are delighted to assist the directors to realise their ambitious growth plans for the future.”
Cedarstape was established in 1998 and has grown exponentially since then, being listed as a HSBC/Virgin Fast Track 100 Company in 2003 and winning the Scottish Enterprise Tayside award for Best Performing Business in Tayside with over 25 employees in 2006. Parties to the deal include new board members James McCafferty, Steve Edwards (formerly sales director of Sellotape) and Graham Bodie (former finance director of Trak Microwave, AC Yule and John Fleming).
“DC Consulting has played a significant part in the development of Cedarstape from a small, regional distributor to a pan-European provider of adhesive tape and related product solutions,” says Cedarstape’s MD, Tom McCafferty. “DC Consulting has a wealth of knowledge in terms of funding avenues and structures, and access to these has been a critical factor in the continuing growth and success of the business.” “This deal is central in establishing a robust operating structure to support our plans for the future as we continue to penetrate new markets and diversify our product range.”
DC Consulting specialises in corporate finance and strategic business advice to the SME market in Scotland. Headed by a board of four directors, it is the leading corporate finance adviser in Tayside, providing innovative financial solutions for established and pre-revenue businesses.
Angus Hay commented: “We believe that the key to our success both in terms of our private equity clients and in our mergers and acquisitions activity is our ability to develop the most appropriate funding model. We draw on our extensive experience of both public sector grants and debt funding from the various financial institutions to leverage private equity funding and work with our clients to engineer the right finance package for their circumstances.”
Issued on behalf of DC Consulting by Eileen Prior, Prior PR. For further information contact Eileen on
01721 729322, 07802 180 412 or eileen@priorpr.co.uk