Irwin Mitchell’s Banking & Finance Team Advises ThinCats On Funding Deal
A multi-million pound management buyout (MBO) has been completed at Yorkshire-based specialist Recycling & Haulage Contractor, Robinson Contract Services Ltd.
Robinson Contract Services (RCS) employs around 60 people and was founded by Cliff Robinson in 1942. The business has remained in the Robinson family since it was established and for the last 12 years has been headed by Julia Robinson.
The MBO enables the management team, Craig Stainforth and Emma Marsland, to become majority shareholders with Julia Robinson continuing to hold a share in the business.
The deal was led by Ben Peacock and Tom Kaye of Park Place Corporate Finance who advised the group on structuring, funding and delivering the MBO.
Ben Kimball headed the team at ThinCats who were advised by Paddy Sturman, Banking & Finance partner at Irwin Mitchell together with colleagues Faye Bargery, Jaygo Norris, Aurelia Butler-Ball and Andrew Tinker.
Julia Robinson, Managing Director of RCS, said: “Craig and Emma are long serving members of the team and under their stewardship and ownership will retain the Robinson ethos and values that have underpinned the business since the beginning. They are an experienced team at the helm and will guide the company on the next phase of the journey and I wish them every success in the future.”
Ben Kimball, Director, Regional Business Development, ThinCats, said: “It was a pleasure to get to know the team at RCS and to support them with the funding for this MBO. They have an impressive set-up, and I am sure that they will be successful with their ongoing development plans.”
Expert Opinion“We were delighted to work with ThinCats and help complete this MBO at Robinson Contract Services. The business has gone from strength to strength under the Robinson family for almost 80 years and I am confident that it will continue to flourish following this change of ownership. We are also delighted to work again with Ben and his colleagues again as ThinCats continue to provide a much needed source of funding for businesses with transactions to do.” Paddy Sturman - Partner