A multi-million-pound management buy-out at Dinnington-based Advanced Alloy Services, a processor and supplier of speciality alloys with a £30 million turnover, has seen ownership shift from the company’s founder to its managing director.

The companywas established over 25 years ago by Alan Fisher; it supplies products for very demanding end-use applications in a wide variety of sectors, including aerospace, oil and gas and medical (www.advancedalloys.co.uk).

Managing director Stephen Hall said: “I am absolutely delighted to have the opportunity of taking this exceptional business into the next chapter of its growth.

"We will — of course — continue to work closely with our suppliers and customers, with the support of the fantastic staff here at Advanced.”

A number of deal-makers from across the region advised on the deal, with funding to support the transaction provided by Shawbrook Bank.

Kevin Davies, partner at BHP Corporate Finance, said: “An innovative funding package was required to support both the structure of the deal and Advanced’s working-capital cycle.

"This is further demonstration of the funding appetite that we are seeing for carefully prepared and structured transactions.”