Midlands accountants Bishop Fleming have advised the management team of a national supplier of commercial vehicle ply-lining, conversions and accessories, in a management buy-out.
The management team of Bromsgrove-based Fastfit Nationwide, consisting of Darren Smith and Paul Hickman, have bought out Fastfit’s remaining founder shareholder Dave Bradley, after the three completed the first MBO in 2019.
Paul and Darren have long-standing management, operations, and customer experience in the business, and now take full control of the business to deliver their growth strategy.
The Fastfit Nationwide management team were advised on the deal by corporate finance specialists, Bishop Fleming.
Corporate Finance Senior Manager, Phil Redgate, said: “The team are now in a great position to deliver the next phase of the business’s development.”
The business was founded in 1990 and has since grown to service a host of Blue-Chip companies along with retail customers.
The service offering includes commercial vehicle ply-lining, tow-bars, seat conversions, auto-glass and vehicle accessories and has depots in West Bromwich and Bromsgrove.
Paul Hickman said: “Darren and I would like to thank Phil Redgate and the team at Bishop Fleming and James Hayes and his team at MFG for their first-class advice in helping us complete our MBO. We would not hesitate in using both again for any future ventures that we may undertake.”