News Room
April 2007
Aberdeen Asset Managers Growth Capital backs MS Industrial Services
Aberdeen Asset Managers Growth Capital (“AAMGC” or “Aberdeen”) has backed the management buy-in buy-out (“BIMBO”) of MS Industrial Services Ltd (MSIS) in a £6 million deal in which Aberdeen has invested £2.5 million. North-east businessman, Chris Lloyd, has led a consortium to acquire MSIS, an industrial cleaning and waste disposal company, with a view to building an environmental services group.
MSIS, based in Aberdeen and Invergordon, employs 35 full-time staff and works in a variety of sectors, undertaking waste management, high pressure jetting, CCTV surveys, LSA decontamination, vacuum tanker hire, tank cleaning, oil spill response services, environmental management services and vacuum transfer systems (VTS). MSIS provides these services to offshore oil and gas customers and to a range of onshore customers involved in distilling, construction and utilities markets.
MSIS recently announced financial results which saw turnover rise by 72% to £4.39 million in the year to February 2007.
Jock Gardiner and Guido Bicocchi led the deal for Aberdeen. The deal was supported by Tom Faichnie at Barclays.
Advisors to the transaction included Nick Dalgarno at Simmons & Co who provided corporate finance advice; David Allan and Damien Bechelli at Biggart Ballie were lawyers to AAMGC and Andy Walker, Johnston Carmichael undertook financial due diligence.
Other advisors included those to the vendor Paull & Williamsons and to the purchaser, Simmons & Company and McGrigors LLP.
Jock Gardiner, Investment Director, Growth Capital, commented:
"Environmental services is a growing and exciting market and this is an ideal time to drive MSIS forward and exploit new opportunities. MSIS is an attractive proposition with significant growth potential both at home and internationally.. We have every confidence in the strength and experience of the management team.”
Chris Lloyd, Chief Executive, MSIS, commented:
"It was important to identify a firm which provides a wide range of high quality services, delivered by highly skilled and experienced people and which has strong growth potential in its own right. MSIS ticks all these boxes and provides us with an excellent platform to build real value, through organic growth and by acquisition.”
 | Our downloads are formatted as PDF documents. In order to view these links please make sure you have Adobe Acrobat Reader installed on your computer. |