The Birmingham office of a national law firm has advised on two high profile private equity deals.
The corporate finance team at Freeth Cartwright worked on the management buyout of pilot training company CTC Aviation Group and helped shareholders sell Midlands manufacturer Invotec Group to RG Industries for £12 million.
The team was led by corporate partners Lee Clifford and Jonathan Hambleton, supported by senior associates Tom Brown and James Cowell.
Mr Clifford said: “Whilst the current economic climate is undoubtedly challenging, and has been for some time, it is extremely pleasing that we have managed to secure a successful completion for the management team at CTC.
“To have two private equity transactions complete in quick succession is excellent news for the market generally.
“Private equity is providing funding solutions and leading the way in galvanising the next stage of growth within businesses with high potential and skilled management teams.”
CTC started in 1995 and works with customers including British Airways, Qatar Airways, EasyJet and Jetstar from bases in the UK and New Zealand.
Invotec manufacturers circuit boards for the space, aerospace and defence sectors, turns over in excess of £20 million and employs 250 staff at sites in Tamworth and Telford.
The CTC acquisition, for an undisclosed sum, was funded by Inflexion Private Equity and HSBC Bank.
Yagnish Chotai, a senior adviser to Inflexion and ex-Cinven partner, joins the board as chairman and Robert Clarke becomes group chief executive.
Invotec’s new owner, RGI, is the latest vehicle created by industrial investment firm Rubicon Partners with Grovepoint Capital and Investec.
With a focus on business acquisition in the manufacturing and distribution sectors, this is the second investment by RGI’s private equity fund.