ThinCats, the fintech lender, has facilitated a Management Buy-out (MBO) for VUS Ltd. This funding will enable the company to invest in new operational infrastructure and secure new contracts.
Based in Derbyshire, the VUS Ltd team are experts in all aspects of civil engineering. Established in 2006 VUS limited has demonstrated consistent and controlled growth year on year, to become a chosen contractor for both Distribution Network Operators (DNOs) and intermediary service providers.
Specialising in cable installation, infrastructure and substation maintenance, VUS Ltd work with customers nationwide. VUS Ltd’s established connections within the industry, and in the local community has meant that the growth to date has been wholly organic with projects being won through word of mouth and personal recommendation.
With over 50 years of combined experience in the engineering industry, Neil Moore, the Managing Director, and Ian Naylor, the Operations Director have led the company. The company’s organic growth has led VUS to open an extension of its business in 2010: VUS Plant Ltd, which exclusively provides vehicles, plant and equipment to VUS. The assets can also easily be supplemented by third parties where contracts remain.
With the addition of VUS Plant, the company is in a prime position for rapid growth.
As part of this rapid growth, the managing directors, Neil and Ian, alongside the business owners, decided to facilitate a management buy-out. In order to do so, VUS contacted TLP Consulting, the largest SAGE accredited adviser in Harrogate to help complete the deal. In turn, after an extensive selection process, TLP Consulting recommended ThinCats. Ben Kimbell, Business Development Director for ThinCats, led the team to provide a comprehensive and timely credit-backed plan.
The deal was supported by Dahren Naidoo at Freeths for TLP, and Ben Slack at Clarion for Thincats.
Neil Moore, Managing Director of VUS Ltd, said: “With our extensive client base that ranges across the UK, we are always looking for our next step. Our collective decision with the owners to facilitate a management buy-out will allow us to continue our expansion. This crucial funding from ThinCats also allows for us to invest in operational infrastructure, shoring up our business for future growth.”
Ben Kimball, Director of Regional Development, ThinCats, said: “Alternative finance providers continue to prove that we can plug the funding gap, and the support from local businesses is our greatest endorsement. VUS Ltd is a great example of how investment can supplement organic growth of local businesses with big ambitions.”
Paul Land, Managing Partner, TLP Consulting Limited, said: “To match our extensive client base, we are always on the lookout for innovative approaches to lending. I was impressed by Ben’s drive and sophisticated approach to business, and happy to recommend him to VUS as a sustainable lending partner.”