Energy management company Vickers Electronics has undergone a £7.2m management buyout in a deal backed by EV, PHD Equity Partners and Yorkshire Bank Corporate & Structured Finance.
The Trafford Park-based company designs, installs and maintains energy management systems which regulate temperature in large commercial premises, such as warehouses and factories. It was founded in 1991 and has 29 employees.
The existing management team, led by David and Alison Hilton, is joined by incoming chairman Ian Cameron. David Hilton said: “[The deal] allows us to increase the rate of development of new products and move into new markets, while maintaining our core client base.”
Vickers has developed an in-house product that can monitor temperature at various points within a building and can controls heating systems to reduce fuel usage. Clients include Stagecoach, Magnet and Boots.
Dow Schofield Watts in Manchester provided corporate finance advice to the management team. Legal advice was provided to EV by the team at the Manchester office of Pinsent Masons.
RSM Tenon provided advice to the vendor, while Gateley in Birmingham advised Yorkshire Bank Corporate & Structured Finance.