Dennis Eagle Group

Deal Summary

Catalyst advised the management team of Dennis Eagle on their secondary management buy-out supported by ABN Amro Capital in a transaction valued at £61.5 million.

Based in Warwick, Dennis Eagle manufacturers more than 700 refuse collection vehicles per annum and has seen a significant upturn in business following the increasing focus of the UK Government on the collection and recycling of waste.

What difference did we make?

As is often the case in a secondary management buy-out, there are a number of conflicting issues that need to be managed, particularly in relation to the management’s role as buyers and sellers.

With existing funders Bridgepoint wanting to realise their investment, management were keen not only to secure a solution that met Bridgepoint’s needs but also that grew their own interest in the business and secured additional funding for growth at the same time.

Working alongside management to develop a business plan, Catalyst developed a deal structure with preferred funder ABN Amro that met everyone’s objectives and resulted in management doubling their equity stake in the business.

The funding provided by ABN Amro also enabled the Dennis team to pursue an acquisition strategy in Europe.