On track for growth
Cripps has helped seal a deal that will see a UK manufacturer move forward with fresh investment and a new management team.
West Sussex-based Ferrabyrne LTD has secured a combined £4m from YFM Equity Partners and individual investors in a management buyout.
The company specialises in the rail, commercial vehicle and energy generation industries. Its key products include suspension components for passenger and freight rail vehicles and heavy-duty trucks, as well as components for wind turbines.
Cripps oversaw the sale of the business to its new owners as well as advising the managing director on his own fresh investment in the company.
Lawyer Salim Somjee said: “Ferrabyrne has invested heavily in design and development capability, and is well placed to take advantage of the buoyant rail sector, in which it has an impressive reputation. This new investment will help the company achieve its growth ambitions under the continued leadership of managing director Ken Horton.”
Ferrabyrne has 73 employees working at its Littlehampton headquarters and around the world. It is an approved supplier to global rail businesses such as Bombardier, Hitachi, Alstom, Siemens, CAF, Wabtec, Unipart Rail and London Underground.
Ken Horton added: “The rail market is growing strongly and this fresh investment means we are ideally positioned to take advantage of this opportunity to supply train manufacturers and maintenance operations in the UK and abroad.
“I greatly appreciate the support provided by Cripps in helping to bring the deal to fruition.”
Meta Corporate Finance worked alongside Cripps.