Delta Rock Group, a Deeside-based electrical engineering company, has undergone a management buy-out with backing from funding provider MSIF. It has been bought by Scott Davis, who used a mezzanine loan facility from Liverpool-based MSIF and personal funds to purchase the share capital of the business.
The deal gives the existing shareholders a route to retirement, making Mr Davis the sole owner of the company.
He said: “Delta Rock Group is a well-established business with a very strong reputation in the industry. I saw the opportunity to use my past experience to build on the solid foundations and take the business to the next level.
“We are currently going through a complete rebrand, which will support a change to the business model. The addition of new products and services will provide more value to our new and existing clients.”
Simon Thelwall-Jones, investment director at MSIF, said: “I really enjoyed working with Scott. He has a lot of relevant business experience, and his knowledge of the industry was really impressive.
“I am looking forward to seeing what happens in the coming years for Scott and Delta Rock Group and continuing our work together.”