Sale of MacNeillie
Odyssey Corporate Finance has advised on the sale of S MacNeillie & Sons Limited (“MacNeillie”) to Babcock International plc (“Babcock”) alongside law firm Higgs & Sons.
MacNeillie is one of Europe’s largest specialist vehicle conversion companies and a world leading manufacturer of armoured vehicles. Customers include the emergency services, MOD, government organisations and corporates. Last year the firm turned over in excess of £34m.
Odyssey achieved a strategic premium for the business and the ‘right home’ as part of Babcock.
Keith Bradley, Chairman and shareholder of MacNeillie commented: ‘We selected Odyssey after a beauty parade of advisers and made the right choice. They advised us every step of the way and negotiated an outstanding deal for us. The family shareholders are delighted with the result, which far exceeded our expectations. We are very grateful to the team at Odyssey and cannot recommend them highly enough.’
Ray Harris, Director of Odyssey said: ‘This project was a pleasure to work on: a British business leading the world in its field, a high quality management team and a strategic fit with Babcock. MacNeillie is the latest niche manufacturing deal that Odyssey has led and demonstrates the ongoing interest from acquirers in quality UK businesses.’