Engineering group Anopol is planning to set up operations in emerging economies after a management buy-out that was supported by finance provided by Lloyds Bank Commercial Banking.
Birmingham-based Anopol specialises in the chemical and electrochemical processing of stainless steel and other metals, including the iconic grilles on Bentley cars. The business was founded by brothers John and Brian Swain in 1967 and had its big break in 1970, when it was recruited to provide surface treatment on the moulds used to make Cadbury chocolate bars.
The MBO by managing director David Cass, finance director Adrian Dallaway and engineering director Phillip Spears — assisted by accountants Michael Dufty Partnership — had been planned for many years by John and Brian Swain, who will continue with the business in a support role for at least five years.
Mr Cass, who has worked with Anopol since 2006, said: “The transaction was seamless, quick and smooth and our relationship manager at Lloyds Bank gave us great advice and support, so now the plan is to focus on organic growth for the next two or three years. After that, we would look to make further acquisitions and expand our capacity in the UK, with the aim of increasing our geographical coverage and the range of services we can offer. We will also aim to establish a presence in China and/or India.”
The firm, which had a turnover of £3.5 million in 2012, supplies sectors including oil and gas, automotive, aerospace, pharmaceutical, medical, architectural and nuclear. Clients include Williams F1, Unipart and Stryker Medical, and components processed include exhaust systems, valves used in offshore oil rigs, equipment used in operating theatres and decorative fascias for buildings.