R&W Scott Ltd completes MBO
The Lanarkshire firm R&W Scott Ltd has undergone a Management Buy Out led by the firm’s MD John Easton along with fellow directors Stephen Currie and Michael Hewitt. The business and assets have been purchased from its parent company, Real Good Food plc in a deal worth £4m.
Funding to assist the deal has been supported by Bibby Financial Services, consisting of asset-based finance and an invoice discounting line, with further equity investment primarily coming from the management team.
Harry Linklater provided advice on the deal.
The three directors received legal support from Michael Currie, Partner at Aberdein Considine who commented: “The management team at R&W Scott have demonstrated great ambition and vision in leading the firm to this point, and it was a pleasure in supporting the next stage of their development.”
R&W Scott employs 94 people and has a turnover of £11 million. It is an important supplier of added value ingredients to the bakery, confectionery and retail sectors in the UK.
R&W Scott Ltd operates from an 84,000 sq ft manufacturing facility incorporating chocolate refiners, drop lines, moulding plant, high volume bulk jam line, traditional jam pans, and speciality soft icings line. The site is BRC A+ rated with a skilled and experienced workforce. It has recently had a successful visit by the FDA which allows the company to export to the USA.
John Easton, Managing Director R&W Scott Ltd said:
“I am delighted our team has acquired ownership of R&W Scott where I have worked for over 12 years. We are recognised as a leading supplier in our sector and we are committed to growing the business further and cementing our position within the industry. For employees and customers it’s very much business as usual in the short term, however, we do have several exciting innovative new products planned for the future. Real Good Food have been a supportive owner over the years, however this MBO provides a strong platform from which we can really accelerate our growth plans and thrive as an autonomous business from our Carluke base.”
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