MANAGEMENT BUYOUT ANNOUNCEMENT
Jamie Costello and Alan Matheson are delighted to announce the completion of a management buyout of the business from Allan Dewar, having completed the purchase of 100% of the shareholding and ownership of the company.
The new Board would like to thank Allan Dewar for his support during the MBO process and wish him a long and healthy retirement, adding “This is an exciting point in the company’s 45 year history, maintaining independent ownership and clear direction for the future development and stability of the business. This announcement is good news for our customers, employees and suppliers”.
Dewar Brothers are Scotland’s leading independent specialist packaging manufacturer. We provide a range of bespoke products including timber, foam corrugated, flightcase, Spacecase and SKB solutions to a blue chip customer base across a range of sectors including defence, aerospace, medical, electronics, oil and gas and industrial.
The business will continue to operate from it’s 50,000 ft2 facility in Tillicoultry, employing over 30 staff to provide a range of innovative products and services to both existing and new customers in our chosen market sectors.
The deal provides a platform for the company to build on the progress made over the last few years, focusing on an ambitious and sustainable growth programme.
Funding has been provided by Clydesdale Bank with support from Robert Stark. Legal advice on the MBO was provided by Paul Pignatelli and his team at DWF LLP with John Cairns and his team at accountancy firm French Duncan LLP providing corporate finance and tax advice.
10th May 2019