Panoramic Growth Equity backs MBO at industrial specialist
David Wilson: led on the deal
Panoramic Growth Equity, the Glasgow-based equity investor in fast-growing entrepreneurial companies, has backed the management buyout of specialty industrial insulation business Elmelin.
Elmelin has been operating for more than 100 years providing specialist insulation solutions into a range of markets across the globe.
This is the tenth investment for Panoramic Growth Fund 2. Panoramic is backing managing director Terry Hughes and sales director Christian Krauss, who will continue to the run the business, and target new areas for growth, particularly in the electric vehicle and battery markets where they are rapidly developing further specialism.
Panoramic’s investment into Elmelin, based in north London, was led by partner David Wilson and supported by investment manager Jake Wilson.
Panoramic was advised by Keith Dinsmore of Edinburgh-based legal services firm Vialex. James Cowper Accountants provided financial due diligence through Brad McAvoy and Nathan Willis. Management were advised by Andrew Thomson and Ricky Lane at HMT and legal advice provided by Stephanie Perry at BDB Pitmans
Mr Hughes commented: “From start to finish, Panoramic provided us with excellent support through all stages of our MBO. Their focus was very much on building a strong relationship with the management team, helping us to test our assumptions for the future and working with us to create a joint vision for the business. We look forward to working with Panoramic to continue to grow Elmelin and invest in new capabilities.“
David Wilson, partner at Panoramic, said: “Terry and Christian are a first class team, who now have the opportunity to take Elmelin into new markets both at home and abroad.”