Shorts advise on MBO of Bullseye Car Parts
Chesterfield Champions Shorts recently teamed up with Keebles and NatWest to act as lead advisors, legal representatives and funders, to Stacy Phillips on his recent management buy-out of motor parts specialists, Bullseye Superfactors Ltd.
Bullseye have been supplying car parts to South Yorkshire and the surrounding areas for over 38 years. Stacy first joined the company in 1989 and for the last six years has been Managing Director, playing an active role in the development and growth of the business. This culminated in being given the opportunity to put together a Management buy-out when the owners decided to sell.
Andy Ryder, Corporate Finance Partner with Shorts comments: “We are delighted to have advised Stacy on the successful completion of this transaction. This transaction required key support on tax (David Robinson) as well as corporate finance (Adam Ames) and great teamwork between ourselves, Stacy, Keebles and NatWest. We look forward to seeing Stacy continue to grow the business.”
Steve Mayor, Relationship Director at NatWest’s South Yorkshire Commercial Office added, “We are delighted to assist Stacy with funding to complete the MBO of Bullseye and are confident the business will progress under his leadership. It has been a pleasure to work with local professionals on the deal and we wish Stacy every success for the future.”
Corporate Finance Partner at Keebles, Paul Trudgill said: “It was a pleasure to assist Stacy to complete the buy-out of a business which he has been key to driving over recent times.”
Stacy added “I will continue to manage the business, and as far as existing clients are concerned it will be business as usual. I am very excited for the next phase of what promises to be an exciting period for the company.”
A family run business, Bullseye’s reputation has built on providing a friendly and helpful service, carrying an extensive range of top brand components and accessories. With 17 branches throughout South Yorkshire and surrounding region, they offer a competitive and responsive service for customers.