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Work examples // 03/05/2018

Management Buyout (MBO) Example

citra partners management buyout example (case study)

Menzies advise beer and real ale specialists Citra Partners, alongside an investor consortium, on their investment in award-winning brewery, Woodforde’s, providing financial due diligence and transaction support advice.

“Menzies were critical in the successful acquisition of the Woodforde’s brewery by ensuring that we fully understood the underlying financial performance of the Brewery to underpin our investment case. They also provided us with a clear view on the working capital requirements of the business, which was fundamental to the deal. We have been so impressed with the level of service Menzies have provided us throughout the transaction process and we must extend our thanks to Mike and Ross at Menzies. We look forward to continuing our relationship with Menzies in the future.”
James Hughes, the new CEO of Woodforde’s

Mike Grayer - Menzies Accountant

Background from Mike Grayer – Corporate Finance Partner

Woodforde’s is Norfolk’s largest independent and a multi award-winning brewery. Well-known for its Champion Beer of Britain ‘Wherry’ – which has been established for 35 years – the business is now looking to invest significantly to drive the next stage of growth.

Management buy-outs explained

For an exiting owner, an MBO will offer an attractive succession plan, as there will be continuity of management and no requirement to disclose confidential information to outside parties. An MBO is an attractive option for businesses with retiring owners, a track record of profitability and a strong, motivated management team with a clear vision of the future direction for the business.

What about Management buy-in (MBI)?

An MBI is similar but the management team is external to the business. The risks are different, as MBI teams will not have the same detailed knowledge of the business, but the latter could potentially have gained sector experience and could therefore identify the potential a business has to generate good returns to its shareholders.

More about Menzies MBO Advisory Services.

Make a confidential MBO enquiry

We understand that undertaking an MBO process is a sensitive process, so for a confidential call-back or information request please submit your MBO enquiry below


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