Northern Venture Managers (NVM) has realised its investment in Four D Rubber Company Limited, the Derbyshire-based manufacturer of natural latex sheet, in a secondary
buyout transaction. The integrated finance team at Bank of Scotland completed the GBP4.3 million secondary buyout by providing a debt and equity package to finance the deal, taking a minority stake in the company.
Northern Venture Managers invested in Four D in October 1998, when the company was
acquired for GBP3.15 million by a management buy-in/buyout team. Bank of Scotland provided
senior debt and working capital facilities and Northern Venture Managers arranged GBP1,230,000 of equity funding in return for a 44 per cent stake.
The Bank of Scotland integrated finance team leading the secondary buyout included Ron Adam, Ian Guthrie and Donald Fowler providing the company with a long term funding package comprising senior debt, mezzanine and loan stock to support the deal.
“Four D has an enviable track record, good prospects and a strong team led by Jonathan Prutton,” said Ron Adam, director of integrated finance at Bank of Scotland.
Four D Rubber was established in 1965 and operates from two sites in Derbyshire. The company supplies cast latex to the clothing industry, the dental, physiotherapy and
sports exercise markets and for industrial applications for a broad range of customers worldwide.