The George Green Corporate Team, led by partner Philip Round, was delighted to advise Alloy Wire International on its recent management buyout, with financing being provided by HSBC Bank UK Plc.

AWI is a Black Country manufacturer of round, flat and profile wire and the transaction is set to support its continued growth in the industry.

The deal sees the senior management team, comprising Tom Mander (Managing Director), Andrew Du Plessis (Technical Director) and Adam Shaw (Finance Director) take full control and purchase the business, with Alloy Wire’s employees also becoming shareholders. The previous Managing Director Mark Venables moves to chairman and Research & Development Director Angus Hogarth steps into a consultancy role.

The senior management team’s 45 years of combined industry knowledge and experience and additional support from HSBC bank will leave Alloy Wire well placed to achieve its target of £15 million of annual sales.

The George Green Corporate Team advising on the deal was led by partner Philip Round, supported by Solicitor Jade Langford and Trainee Solicitor Joe Harris, alongside partner Tim Lang in the Employment Team.

Philip Round comments: “Alloy Wire International is a longstanding and valued client of George Green. Having advised the business since its previous management buyout in 2013, I have seen first-hand the commitment and dedication of senior management and employees, who have achieved remarkable growth and a reputation for excellence in extremely difficult trading conditions. It was a pleasure to work with the team to implement the transition to the next generation of managers, who I am confident will continue the AWI success story”.