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Sentio advises on sale of Winder Power

WINDER Power, the manufacturer of power distribution and generation equipment, has completed a £6m management buyout backed by Enterprise Ventures and Bank of Ireland UK. Established over a century ago, Winder Power employs around 100 people in its two divisions. Winder Electrical specialises in the design and manufacture of power and distribution transformers for use on electricity networks while Newton Derby supplies generation equipment for sectors including marine, rail and aviation.

The deal passes control of the Leeds-based business to a management team led by Managing Director Laurence MacKenzie, operations director Andy Pinkney, general manager Paul Matthews and finance director Jo Evans. Mr Pinkney and Mr Matthews were already shareholders in the business.

They will be joined by a new chairman, Harry McCracken, who has more than 40 years' experience in the power industry and is the former group managing director of Viridian Power & Energy.

Exiting Executive Chairman Mr Asquith, who led his own successful buyout in 2005, backed by YFM Equity Partners said: "YFM have been very supportive partners for our business as we have grown and developed the company. They funded a move into modern premises; encouraged the business to invest in equipment and facilities and grow its exports."

Nigel Owens, portfolio director of YFM Equity Partners, said: "YFM Equity Partners has worked closely with Richard and the management team to help the business transform its growth prospects, increase employees by over 50% and win significant export contracts. We are very proud of the company's achievements and we wish the management team every continued success."

Sentio Corporate Finance advised the shareholders, that included YFM and Richard Asquith, on the transaction which saw YFM make a 5.7 times return on its original investment. Andy Miller added “We are delighted to have secured a succesful exit for Richard and YFM that sees a culmination to the hard work involved in the development of Winder Power since the original buy-out seven years ago leading to a significant financial reward for their skill and efforts.”