The management team at newly formed Zoto Engineering is celebrating successfully buying the Ј1.5 million turnover business from the Askern Group, securing 25 jobs. John Clarke, Managing Director, appointed a team of Yorkshire advisers who worked together to bring the MBO to a successful conclusion.
The business has been established for ten years and manufactures steel reels from its premises in North Anston Industrial Estate, Sheffield. Its customers use the reels, which tower up to 28 feet in height, to transport and sell products such as electric cabling and wire rope.
When John Clarke, the General Manager of six years, was given the chance to buy the business he was keen to seize the opportunity. He turned for advice to Mark Wilcockson, Senior Manager at Lloyds TSB Commercial and to Andrew Coates of corporate finance specialists, Strategic Corporate Finance, who were appointed lead deal advisers to the management team.
