Investec Growth & Acquisition Finance has provided a blended GBP27.5m asset-based and cashflow debt structure as part of the recent MBO of Integrated Engineering Stores Associates.
The MBO was backed by Gresham LLP.
IESA specialises in the management of maintenance, repair and operating (MRO) goods expenditure, through integrated supply solutions.
The business was established in 2001 and has developed an IT platform that manages clients’ supply chains to reduce inventory costs, streamline procurement and order processes, introduce advanced stock control and invoice management techniques and establish online solutions. IESA’s client list includes multinational organisations such as 2 Sisters Group, AstraZeneca, Jaguar Land Rover and Premier Foods. The business currently manages MRO for clients at 276 production sites in the UK and Ireland.
James Cullen from Investec Growth & Acquisition Finance (pictured) says: “We’re delighted to be backing this team in a business which continues to grow and lead the development of its market. We think IESA’s opportunity to grow together with the backing from Gresham, with their long track record of step-changing businesses to a higher level, provides a really compelling combination.”
