Browne Jacobson advises shareholders on private equity investment in Eagle Engineering

Browne Jacobson has advised Eagle Engineering (Holdings) Limited on a major investment in the business by Chelverton Investment Club.

Telford based, family owned Eagle Engineering is a global market leader in the design and manufacturing of specialist electroplating barrels and machines used for plating small components such as coins, fasteners etc, as well as a variety of related spare parts and consumables.

Chelverton Investor Club is a part of Chelverton Asset Management, which was established in 1988 as a specialist investor to a broad range of small and medium-sized enterprises (SME’s).

The Browne Jacobson team comprised Birmingham based private equity partner Gareth Davies, senior associate Kirk Glenn and associate Matt Dorman.

Regional accountancy and business advisor Azets Corporate Finance also advised on the private equity backed transaction which will enable Eagle Engineering to fulfil its strategic objectives for further growth and support the exit of one of the three shareholders.

Simon Nixon, Eagle shareholder, commented: “We quickly recognised that Nick and Richard at Chelverton were the right partnership to support us in the future and we welcome them on board for the next part of our journey. I would like to thank the team at Azets and Browne Jacobson who have held our hands throughout the process. The demands and complexity of the process exceeded our expectations and we could not have got there without them and their pragmatic and commercial advice.”

Richard Bucknell, Chelverton’s Investment Director, commented “The Nixon brothers have built a high quality engineering business which is at the forefront of its field on a global basis. We’re looking forward to working with Simon and Martin to capitalise on this niche market leadership and exploit the clear potential that is evident in Europe, the Americas and the Far East. We have introduced a highly experienced investing Chairman in Nick Harrison, who has had a long and successful career in sales, marketing and leadership roles within multi-national engineering businesses, to assist the brothers moving forward.”

Gareth Davies added: “We are delighted to have advised Simon and the other shareholders in securing this significant investment which will accelerate the further growth of the business and open up new income streams on a global level.

“This transaction further demonstrates our management advisory credentials in the PE space and reinforces our status as the go to firm for businesses receiving private equity investment.”

Martin Poole, Corporate Finance Partner at Azets, added: “In Chelverton, we found an investor that recognises the quality of the business and who offered a funding structure that satisfies the differing long-term aspirations of the shareholders and the company. With the support of Chelverton and Nick, the business is well placed to capitalise on the growth opportunities ahead”.