The new management team at Lestercast Ltd is celebrating successfully acquiring the business through a buy-in management buy-out. The management team turned to Chris Meldrum at Lloyds TSB Commercial Finance Limited in Leicester to help finance the undisclosed deal and meet the company’s ongoing need for working capital.
The Leicester based business has been established for 26 years and manufactures precision investment castings in steel, aluminium, brass and bronze for hundreds of customers in the UK and Europe across a huge variety of markets.
Existing Director Malcolm Healey was keen to seize the opportunity to buy the business with friend and former colleague Chris Batty. Following advice from Brian Willey at Lloyds TSB, their existing bankers, Malcolm and Chris contacted Chris Meldrum at Lloyds TSB Commercial Finance.
