Spinlock, a manufacturer of marine hardware, undergoes a management buyout, with Meridian Corporate Finance advising the management team.
Chris Hill, Peter Kirby and Caroline Senior, former managers of Spinlock, will take over from Rodney Hogg, former Managing Director, as the new owners. Hogg will remain with Spinlock as a non-executive director, after the management buyout.
Spinlock, a manufacturer of marine hardware, is recognised as a world expert in rope holding. Based in Cowes, Spinlock has over 30 years experience of designing and manufacturing rope-holding equipment for sailing boats, from dinghies to the largest superyachts.
Spinlock has also developed its own deckware range which includes Deckvest, a leading lifejacket harness.
“With over 50 years of experience between them, Chris, Peter and Caroline will make the perfect team to lead the company to further growth and success. They are determined to maintain the distinctive personality of Spinlock as technology leader and a global brand of the highest quality.”
Rodney Hogg – former Managing Director of Spinlock
Hill and Senior were guided through the MBO by Meridian.
“It was obvious that Meridian completely understood the challenges that an MBO would place on us and were very comfortable with their guidance in forming an expert and like-minded group needed to complete the process.
“We wish to thank Meridian for their support and understanding throughout. If we had to do it again we would appoint the same team of advisers. We have been really pleased of how Meridian and the Trethowans team kept the deal on track and remained positive.”
Chris Hill and Caroline Senior – new owners of Spinlock