Lloyds TSB Commercial Finance in Swansea has helped secure a management buy-out (MBO) at pharmaceutical research company Simbec Research.
Senior managers at Simbec have acquired the firm, whose clients include some of the world’s leading pharmaceutical companies, from French owner Merck Sante SAS for an undisclosed sum.
Working capital for the deal was provided by Lloyds TSB Commercial Finance and arranged by its Swansea-based regional manager, Alun Thomas.
He said: “We are delighted to have helped fund the MBO of such a well-established company, one that continues to provide quality jobs in South Wales.”
Also involved in the MBO were Lloyds TSB Corporate and accountants Deloitte & Touche.
