£22m robotics specialist completes MBO with Endless support

Endless LLP, the Leeds-based private equity house, has backed the management buyout at robotics specialist Sewtec Automation.

The £22m-turnover business, based in Dewsbury, designs and engineers automated manufacturing and packaging systems for a customer base of global blue chip companies.

Sewtec, which comprises a team of 70 engineers, serves sectors including confectionery, food, pharmaceutical, personal care and tobacco. Exports make up 85% of its sales.

Established at the end of the 19th century, the company started life as the design and development department of the Singer Corporation, the manufacturer of sewing machines.

The management team of Gary Day, Karl Conqueror and Paul Johnson led the buyout, with the backing of Endless, to help the business grow and expand into new markets.

Andrew Ross, Director at Endless, said: “For a business of its size and location, Sewtec has an impressive list of multinational customers which trust and respect its team of highly skilled engineers to come up with innovative solutions to some very difficult problems.

“It is an inspirational Yorkshire success story and as a private equity house with headquarters in Yorkshire we are delighted to be supporting the management team at Sewtec with the next stage of its development.”

Paul Johnson, sales director, added: “We are delighted to be working with Endless and look forward to an exciting future together.

“We have developed together a sustainable growth strategy that will allow the business to flourish further, while making sure that our employees remain engaged, satisfied and aligned with our vision.

“Working with Endless ensures the business can operate in the future with the financial security that it has enjoyed in the past.”

The vendor Bernard Meehan will remain as consultant. He chose Endless over a number of other potential backers.

Mr Meehan said: “I met with the Endless team in Leeds and was impressed with their friendly and efficient approach.

“I am confident Sewtec is in safe hands. The fact that big multinationals from all over the world are coming to Ravensthorpe in Dewsbury to solve their problems is something I am very proud of.”

Endless was advised on the acquisition by law firm Squire Patton Boggs and the tax team at KPMG.

The sale side advisors were Mazars Corporate Finance and law firm Gordons.