Cattles Invoice Finance has funded the management buy-out (MBO) of Wakefield-based Grosvenor Transformers from the Grosvenor Group.
The deal will see Grosvenor Transformers become a family-run firm. Harry Clarke, who led the MBO with his son Anthony, set up Grosvenor Transformers 17 years ago as a specialist division within the Grosvenor Group. The company maintains power transformers and manufactures electrical components.
Grosvenor Transformers’ clients include major utility providers and the company is expected to increase turnover this year by 40% to Ј1.2 million.
Mark Brown, who led the deal on behalf of Cattles Invoice Finance comments: "Harry has a great deal of experience in this industry and knows his company and his market very well.
