- Date of Investment – 2020
- Funds Raised – £4.0m
Mechtech Automation Group
A number of the automated and robotic production systems manufactured are designed as part of large, complex and expensive projects for blue chip customers such as Rolls Royce, Dyson, and Ricoh. MAG have also developed a range of “plug & play” automated products to complement their bespoke systems and sell these under the Robopod banner. The third leg of the business is a support and service arm; this is fairly embryonic but has significant potential. Historically MAG have sold predominantly into the UK automotive market place but over the last few years the group has begun to diversify into other growth markets such as aerospace (Rolls Royce), medtech (Stryker, De Puy) and general industrials (Dyson), and have won some prestigious contracts in these sectors. In addition MAG has been successful in opening up new geographic areas including Ireland, Poland, and Malaysia.
In March 2020 FEL supported a management to buy out from Richard Evans, the founder and former CEO. As part of this process we introduced a new MD, Dan Murthi, ex MPac PLC (formerly Molins PLC). In addition to the appointment of Dan and in trying to position the business for growth and to support the opportunity offered by Industry 4.0, we have already made a number of key appointments to help bolster and strengthen the existing management team.
Paul Isaacs is Chairman of the Group.
What the client says
"Having spent 35 years building up a successful and profitable business, and having taken the difficult decision to step back from it, it was important for me to find the right partner to work with to help me realise the value I had accrued whilst at the same time finding a deal that not only worked for me but also built on the foundations I had established and was prepared to look after my colleagues in the business.
Paul Isaacs and the Fresh Equity team helped me achieve all of that and with a structure and in a timeframe that allowed me to extract value in a most tax efficient manner and retain an involvement and economic interest in the future success of the business. I have worked with Paul for over 4 years now and having successfully achieved my first objective I look forward to working with him and the Fresh Equity team to take the business on to the next level. I would have no hesitation in recommending them to any other SME owner/manager looking to achieve the same objectives"
Richard Evans, Founder and former CEO of Mechtech Automation Group
Address
Knowle, Solihull,
B93 8PU.
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