Morgan Cole’s Bristol-based corporate finance team has completed two major MBI acquisitions of engineering businesses.

Corporate Finance Partner Paul Hardman has advised the new management which has bought Newton Abbot-based engineering firm, Centristic Ltd, and the management buy-in team which has acquired Reading-based engineering company James White & Son (Engineering) Co Ltd.

Mr Hardman said, "These deals demonstrate the banks are still lending and the appetite for investors looking for solid business opportunities continues. These are both excellent businesses, which the new management teams will develop further.

"Our Morgan Cole Bristol team enjoys particular expertise in the £1m to £10m deal size and has completed more than 20 such deals since we launched the Bristol office just 20 months ago."

Centristic, which has been acquired by Waldegrave (RG) Ltd, is a specialist designer and manufacturer of aggregate and bulk-handling plant. Established in 1981 it also provides fabrication and erection services to local quarry customers

Other advisors were Foot Anstey and Old Mill Accountants for the purchaser and for the sellers Bishop Fleming and Kitson Hutchings.

James White & Son (Engineering) Co. Limited was acquired by a new management team led by Ian Tubbs, supported by HSBC Bank. The company provides specialist sheet metalwork and precision engineering to niche sectors including the medical, aerospace and defence industries. 

Barry Niven of Field Seymour Parkes worked with James Cowper corporate finance team acting for the vendors.