Oldham company saved after management buy-out
Date published: 20 February 2019
Left to right: Clive Bowen, Chris Pestell, Simon Crossley
An Oldham construction products company has been saved, following a management buy-out.
Quantum Profile Systems employs 90 staff at its headquarters in the town and supplies contract flooring accessories and plastic extrusion products to builders’ merchants and window manufacturers.
The buy-out has been backed by a half-a-million pound loan from Mercia Fund Managers.
The deal gives control of the business to the management team consisting of the Managing Director Clive Bowen, Operations Director Simon Crossley and Sales Director Steve Kean.
Quantum manufactures its own brands including the Quantum range of stair edgings, treads and flooring accessory products, the Dacatie range of cavity wall closers and fire barriers, the Qwood range of timber composite glazing beads and QLean bespoke profile extrusions.
The company is a ‘lean’ manufacturer which aims to make what the customer wants, when they want it, whilst providing outstanding customer service through its loyal and long serving team of employees.
Established over 50 years ago, the company underwent a management buy-out in 2000, in which Clive Bowen took part.
In the latest deal, he and his two fellow directors have acquired the interests of a range of retired, retiring and inactive shareholders.
Mr Bowen said: “Quantum’s success has been due in no small part to our team of loyal employees.
“We are delighted to conclude this deal which will allow us to take the business forward and secure the long term future for all our staff.”
Mercia is one of the few loan providers able to fund management buy-outs in small firms.
Its EV SME Loans fund provides loans between £150,000 and £1million to established and growing SMEs across the UK.
Chris Pestell of Mercia Fund Managers said: “In a space of just 15 years, Quantum has moved from being a traditional mass manufacturer to a modern company where the 'lean approach to business' is embraced by every employee.
“With continuous improvement in efficiency and ongoing investment in IT, sales and profitability have been growing.
“This funding will allow Clive and his fellow directors to take full control of the business and continue its success story.”
Signia Corporate Finance provided corporate finance, deal structuring and fundraising advice to the company, while Weightmans provided legal advice to Mercia Fund Managers.
Lloyds Bank provided an invoice finance facility.
Stuart Lees of Signia Corporate Finance said: “We are delighted to have worked with Clive, Simon, Steve and the rest of the team in helping them to secure Quantum’s future as an innovative and independently owned manufacturing business in the heart of Oldham.”
Most Viewed News Stories
- 1Wild, Priest and Clarke all linked with Oldham manager’s job
- 2Oldham man arrested on suspicion of malicious social post
- 3EXCLUSIVE: Oldham Councillor’s wife not giving up despite threatening phone call
- 4Woman rushed to hospital in serious condition after crash in Oldham
- 5Grenadier Guards heading to Saddleworth