A Managing Director (MD/CEO) & possibly a Chairman is sought to lead a Management Buy-In (MBI) of a Company who distribute automotive paint and accessories to the vehicle repair market with Profit Before Tax of c£200k & a Net Asset Value of c£1.25m. The company is based in central southern England.

The MD should have a background in industrial coatings and/or automotive refinish markets. The exiting shareholders hold 100% of the equity and are happy to support the MBI team during a transition period as required.

1. The Company & the Product:

• The Company has a strong brand name and has been trading for 22 years.
• The Company distributes automotive paint and accessories to the vehicle repair market and is based in central southern England.
• The Company has a strong customer base of c350 with a high level of customer retention.
• The Company has an experienced team of 9, excluding the current father/son Directors.
• The Profit before tax performance of the business is c£200k in 2008, down from c£400k in the previous 2 years.
• The Net Asset Value of the business is currently c£1.25m including c£800k of cash. The Company is debt free.
• The vendor valuation expectations are realistic, based on both revenue and net asset projections.

2. Managing Director Requirements:

• You will have a strong track record in the industrial coatings or automotive refinish markets.
• You will be able to lead the MBI team through the acquisition process and provide sufficient equity to secure leveraged debt funding for the transaction. First Flight are able to assist in securing leveraged debt finance.
• An Information Memorandum is available but we will require a signed Self–Certification Statement or High Net Worth/Sophisticated Investor form in order to comply with the current Financial Services and Markets Act (Financial Promotion) Order 2005 (FSA) legislation plus our MBI Agreement form. The vendor’s advisors will require their NDA to be signed before releasing the IM. If you have not already signed these forms we will email them to you.

N.B. This specification should not be considered as a recommendation by the Shareholders, the Company or any of their respective subsidiaries, affiliates, representatives, partners, directors, officers, employees, advisers or agents to acquire the shares in the Company, and recipients interested in buying shares in the Company are recommended to seek their own independent financial, legal and other advice.