Barclays Private Equity has sold its equity stake in Morson Holdings in a secondary buyout to Barclays Leveraged Finance. Financial details of the transaction were undisclosed.
BPE invested in Morson in December 1999, to support the original MBO taking a 55% shareholding. Morson has since grown from a business with sales of £107m in 1999 to £235m for the year to December 2004.
The secondary buyout is being led by group CEO Ged Mason and founder Gerry Mason, supported by financial director, Paul Gilmour and managing director, Kevin Gorton.