UK & Ireland law firm Browne Jacobson’s award-winning national private equity team has successfully advised BGF on its £13 million investment in Metpro, a high-growth specialist designer and manufacturer of value-added cable management products and accessories, alongside an £8.5m investment from NatWest and further capital investment from the existing shareholders of Metpro.
BGF is one of the largest and most experienced growth capital investors in the UK and Ireland, and since 2011, has invested £4 billion in nearly 600 SMEs, making it the most active investor in the UK. Its investment in Metpro will support ongoing product innovation and meeting increasing customer demand, benefiting from significant market drivers such as electrification, infrastructure investments and labour shortages. Investors Seb Saywood, David Bellis and Sam Giurani led on the deal for BGF.
Birmingham-based Metpro was founded in 1995 and services a wide range of industries and sectors, supplying into the European wholesale and OEM markets. It is best known for its own innovative fast-fit conduit system, Conlok® - part of the Demon Cato range of contractor friendly products.
The Browne Jacobson team advising BGF on the deal was led by partner Mike Jackson and senior associate Matt Bolton, who were supported by associates Jack Milnthorpe and Alys Bratch. Partner Shaun McCabe, senior associate James Busby and associate Patrick Berry advised on the banking aspects, whilst a multi-disciplinary team carried out legal due diligence for BGF.
Matt Bolton, senior associate at Browne Jacobson, commented:
“We’re proud to have supported BGF on this significant investment in Metpro – an exciting and innovative West Midlands specialist manufacturer with a strong, differentiated product range and an experienced management team.”
Seb Saywood, lead Investor on the deal at BGF, commented:
“We’re delighted to be able to support such an impressive local business and highly capable management team, led by CEO Mark Fiddy. This investment showcases Metpro as an example of West Midlands industrial innovation and capability. It is also great to work with so many Midlands advisers and funders to put a deal like this together. This is a fantastic Midlands deal in every sense, that has leveraged BGF’s strong regional footprint.
We’d like to thank the Browne Jacobson team led by Mike and Matt for their efforts and we were very happy with their work delivering this deal.”