Advising the Development Bank of Wales on its MBI and investment in Kingsward Group

Rhondda Valley-based metal fabrication business, Kingsward Group, has received a mix of debt and equity funding from new investors, including our client, the Development Bank of Wales.

Hakeem Din and Cath Golledge from Capital Law’s corporate team, and Chris Lewis from Capital Law’s Banking team, advised the Development Bank of Wales on this management buy-in and investment – which will enable the Welsh business to stay headquartered in Wales, safeguard jobs and accelerate its growth.

The MBI, led by new Managing Director Will Kinder with support from Jason Keetch who is staying with the business as operations director, facilitates a full exit for the founding directors.

The team will be supported with the appointment of non-executive chairman Mark Pulman, who will provide invaluable experience and guidance in delivering Kingsward Group’s future objectives.

Deputy Fund Manager Joanna Thomas led on the deal for the Development Bank of Wales, along with Investment Executives Emily Jones and Ashley Jones. Joanna said:

With a mix of debt and equity, we’ve been able to facilitate a management buy-in that retains this specialist engineering business in the local area and safeguards jobs with flexible and affordable finance. The team at Capital Law played an important part in helping to get this deal over the line.

You can read more about the deal here.

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