MBO proves to be right device for succession


12-12-2018
Workman working at a borehole site

A management buyout has taken place at Cambridge Insitu Ltd as owner and Managing Director, Clive Dalton enters retirement. PEMCF acted as lead adviser to the vendor.

A new management team led by Simon Baxter is now running the Cambridge-based company having taken full control of the company. The company will operate from the same premises and continue to offer the same services as before.

Cambridge Insitu was founded by Clive Dalton 1971. The company designs, manufactures and uses pressuremeters for measuring insitu the stiffness and strength of soils and rocks. The company has developed an international reputation as manufacturers of pressuremeters, in particular the ‘Cambridge Self Boring Pressuremeter’. The manufacture of specialist machines for exploring the properties of the ground remains an important activity, but supplying the service rather than the equipment is now their primary activity.

For a long time, Cambridge Insitu has also supported numerous PhD-related projects by manufacturing prototype devices and providing equipment, people, data, time, and money. Clive has made many friends across the globe by his enthusiasm and willingness to engage with such research.

Cambridge firm, PEM Corporate Finance, advised the vendors on the buyout process. Their team was led by Philip Olagunju.

Simon Baxter, Managing Director said:

“The new team believe strongly that the way Clive has operated is the way we should continue to work. Clive himself will still be available to us as a consultant and we wish him and Shirley the very best in their retirement.”

Philip Olagunju, Assistant Director at PEMCF said:

“Cambridge Insitu has been a long standing client of PEM, and I was pleased to advise Clive and Shirley on this transaction. With the business now in the safe hands of Simon and the management team, I wish Clive and Shirley all the best for their retirement.”

John Yatchisin and Paul Mitchell, of Ashtons Legal, provided legal advice to the vendors. Patrick Faughnan, of Haines Watts, provided corporate finance advice to the management team.

 

We are a leading independent corporate finance specialist based in Cambridge. We work closely with business owners on company disposal, acquisition, management buyout, succession, raising debt and equity finance, business valuation and corporate strategy

PEM Corporate Finance LLP