Dartford-based business Aquadart has been bought out of Andover-based parent company, Croydex Group Plc, via an invoice discounting and cashflow loan deal supplied by NMB-Heller. The MBO, led by Mike Johans, managing director, and advised by Grant Thornton Corporate Finance, effectively secures the future of the business and will allow it the necessary funding for its future development and growth.
Jon Hughes, regional director who worked on the deal on behalf of NMB-Heller commented: “Aquadart has really seen a turnaround in the past year thanks to Mike Johans and the team who have given it a new lease of life. This is a strong team with a great deal of manufacturing experience and I believe they can continue to stabilise and develop the brand and supply chain to further drive the company forward.”
