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Alcomet Ltd, the UK’s leading supplier of electrical metals and components to the electricity transmission and distribution market, has completed a Management Buy-Out supported by Barclays. The transaction provides a successful exit for Alcomet Founder Gary James and enables MD, Chris Beasley to lead the business into its next phase of growth.
Established 25 years ago, to supply aluminium, stainless steel and copper alloys, the business has expanded and evolved to become a specialist supplier of electrical metals and components to the UK substation and energy sector. The company works exclusively with Distribution Network Operators, Transmission Network operators and associated contractors.
On completion of the MBO, Chris Beasley, Managing Director of Alcomet Ltd said, “I started with the company 14 years ago and have seen the diversification of the company with my own eyes. I take great pride in continuing the growth of the company. We are all very excited about the future of Alcomet. The transaction marks the next milestone for the business as the new leadership team introduce new ideas and news ways of working while retaining what has been successful in the past.”
Elizabeth Wheatley, Barclays Relationship Director, said, “By really understanding the sector and the individuals involved, we have been able to create a funding package to support the business throughout the MBO. Executing at speed was vital in securing the deal and happily something we could support from start to finish within 9 days. The management team have wanted to complete the MBO for a number of years and are chomping at the bit to drive the business forward, supported by a loyal and skilled workforce.”
Chris continues, “We are well positioned within a growing market, with a loyal client base and can use this investment supported by Barclays to secure our future, retain valuable local jobs and grow the business. We will continue to invest in staff training, product development and new technology to allow us to maintain our position as the market leader.”
Mike Wood, MP for Dudley South, added: “I’m really pleased that Alcomet will be able to go from strength to strength on the back of this deal – safeguarding local jobs and ensuring this brilliant firm based in Kingswinford continue to be the UK’s leading electrical metals supplier.”
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