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Case studies

ABI

Sectors: Consumer & Leisure

Deal Type: MBO, Exited - 2nd MBO

Transaction Value: £20 million

www.abiuk.co.uk

Dunedin contact:
Shaun Middleton

 
ABI

Overview

ABI, the Yorkshire-based leisure home manufacturer, was originally formed as a result of the merger and subsequent flotation of ACE International and Belmont in the 1970s. Following a difficult trading period, the business was acquired in 1998 by Klesch Capital Partners. Six years later in 2004, we backed the ABI management team in a £20m management buyout. ABI's Chief Executive Mel Copper led the management team through the MBO.

Deal Features

This investment offered us the chance to support a business with a proven management team where there was both the enthusiasm and opportunity to continue to grow the business. Prior to the MBO, Mel Cooper guided the company through a dramatic turnaround in the company's fortunes, thanks to systematic and far-reaching improvements in holiday home design, manufacturing quality and customer service. The company was therefore an attractive proposition being cash generative with good market prospects.

Post-MBO, we have been active in refining the capital structure of the business to suit the firm's needs and deliver value to all shareholders. With our close relationships with the executive directors and non-executive chairman, ABI has been able to deliver growth, deal with a market downturn and look at various strategic projects including consideration of potential UK or Continental acquisitions.

We sold our investment in ABI in May 2009 in a secondary buyout.

Business Description

ABI produces a wide range of leisure homes from its premises in Beverley near Hull, which it sells to caravan park operators and to dealers throughout the UK. ABI's main customers include Bourne Leisure, Parkdean and Park Resorts. In both 2004 and 2005 ABI won the industry's top prize of the 'Caravan Holiday Home of the Year Award'.

ABI's perspective

"The MBO, with Dunedin's backing, has allowed us to build further on ABI's position as one of the UK's leading providers of leisure homes to the leisure park industry." Mel Copper, Chief Executive, ABI

Your Deal

What people say about us

"I've worked with Dunedin for over four years now and I like their professional, can do and supportive approach. They add significant value in their own areas of expertise and let the management team get on with running the business day to day"

Alastair Stewart

Managing Director, etc.venues

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