Blake Morgan advise on management buyout of Hampshire car part manufacturer


Posted on 14th June 2017
A Hampshire-based business that makes complex kinetic parts for major car manufacturers has been acquired by three senior members of its existing management team after securing a multi-million pound finance package from HSBC.

Leading law firm Blake Morgan advised HSBC on the finance deal that supported the management buy-out.

The management buyout (MBO) of CT Automotive, which was established in Portsmouth in 2000, sees two of the three original founders – Jason Philips and Oliver Whitfield – bought out of the business.

The new management team consists of Scott McKenzie, managing director since 2014; David Wilkinson, group finance director since 2011; and Simon Phillips, co-founder and executive chairman.

Anthony Reed, HSBC’s Area Director for Hampshire & Dorset, commented: “HSBC has banked CT Automotive since 2000 and in that time the business has gone from strength to strength, undergoing a massive period of growth and employing more than 2,000 people.

“We would like to thank the team at Blake Morgan for their help in securing this latest round of funding – which means the management team can continue to grow the business and explore new markets.”

Steve Cole, Banking & Finance Partner at Blake Morgan, said: “We are pleased to have played a key role in this transaction, which further enhances our reputation as leading legal advisors on corporate and financial transactions in the region.”

CT Automotive has grown to a $100m revenue multinational group with manufacturing locations in Shenzen and Ganzhou in China, Istanbul in Turkey and Sunderland in the UK.

For more information visit http://ctautomotive.com/

Enjoy That? You Might Like These:


14 August
Helen Bunker, a Partner in Blake Morgan's private client team is celebrating after being shortlisted in the 'Woman of the year – professional services' category at the Citywealth Powerwomen awards... Read More
7 August
Blake Morgan's corporate team has successfully advised Ickenham Travel Group on the sale of the business and assets of their business travel division, Business Travel Direct to travel management company... Read More
30 July
Leading law firm Blake Morgan has announced the appointment of a new Partner, Zoe Wright, recruited to drive the growth of the firm's 20 person strong Property Litigation team. With... Read More