The management of Brighouse based Siddall and Hilton Products Ltd has announced the completion of a multi-million pound management buy-out of the company.
Siddall and Hilton Products, which employs 74 people, is a global leader in the production and distribution of welded wire mesh, including fencing panels, which are sold to distributors and fencing system suppliers throughout the UK and overseas.
Recent projects include the substantial supply of fencing panels to improve security and manage the movement of people at the Port of Calais.
The company has been family owned since it was founded in 1898. The deal facilitated an exit for the Siddall family and other shareholders.
Group Chairman Peter Siddall said “We are pleased to have reached an agreement with the management team which allows them to pursue their growth plans and we wish the new shareholders and their team every success.
“We will now focus on our core medical equipment and services businesses, including Medequip Assistive Technology Ltd and Halifax based Sidhil Ltd.”
The management team, consisting of Managing Director - Neil Stewardson and Finance Director – Ian Thurley, has ambitious growth plans combining development of existing business channels, geographic expansion and product diversification.
Neil Stewardson said “We are grateful to the Siddall family for their support. We also thank BHP Corporate Finance who played a key role as lead advisor and for their professionalism in delivering a bespoke funding package. We are also grateful to PNC Business Credit for sharing the belief and vision we have in our business plan. We have a great team of people at Siddall and Hilton Products Ltd and we are all hungry for further growth”.