Structured finance provider, NMB-Heller announced yesterday that it has secured deals with Midlands-based Electrocal Group and Hartlepool-based Stadium Consumer Products Ltd.
Electrocal Group, a small engineering company which specialises in the manufacture and distribution of gauges and pressure calibration equipment, has subsidiaries in the UK, France and Germany. In October 1996, divisional manager Paul Winters led an MBO with equity debt provided by venture capitalists 3i.
3i’s strategy to divest itself of its small business portfolio necessitated new funding, but here Paul Winters encountered problems as a result of Electrocal’s overseas operations.
