MBO at Central Power Services in Preston assisted by RBS

Industrial equipment supplier Central Power Services Ltd has gone through a management buyout (MBO) with the help of a funding facility from RBS and RBS Invoice Finance.

The deal has seen Jonathan Brakewell bought out by his brother Stuart Brakewell, who is now set to take full ownership of the Preston-headquartered company after securing the undisclosed funding from RBS.

Stuart Brakewell, Central Power Services’ managing director, said: “I am delighted to take full control of the business and am looking forward to expanding the business and to build on the firm’s established track record of success. It will be business as usual for our customers, suppliers and staff.

“I am grateful for the support and professionalism RBS has displayed throughout the deal process which has allowed the completion of this deal and the support from all the teams involved.”

Based on Garstang Road, Central Power Services installs and services emergency power systems for organisations in the UK and Europe. In addition to its Preston base, the firm has offices in Leeds and Cannock, Staffordshire.

Neil Robinson of global accountancy firm Mazars, which has an office in Liverpool, worked as an adviser in the transaction. Jenny McCabe of North West accountants CLB Coopers advised Stuart Brakewell, as did Gill Gardner of law firm Brabners.

The regional head of the North & Midlands for the RBS Corporate Transactions Team, John Copping, said: “Central Power Services is very well established and having worked for the business since inception, Stuart is well placed to drive its future success.

“He is a very experienced and highly regarded local business man who also works alongside Lancaster University as an Entrepreneur in Residence offering support to students in the Business Management School. I am delighted to have helped Stuart complete the MBO.”