Derby-based fencing business, First Fence, has completed a management buy-out (MBO) of TD Galvanizing with £500,000 of funding from HSBC.
The deal has taken TD Galvanizing, which offers galvanizing, shotblasting and powder coating services, out of administration saving 31 jobs and has helped First Fence renovate the business’s premises. Following the acquisition, TD Galvanizing has been renamed ‘First Galvanizing’.
In addition to the MBO, HSBC has provided £600,000 to First Fence to buy a storage site in Tipton, in the Black Country. The new site will be used to store fences before being distributed across the country.
Vinny and Umesh Kotecha owners and directors of First Fence said: “We’re thrilled to welcome First Galvanizing to our growing business. HSBC’s support has enabled us to vertically integrate across the supply chain with the buy-out of one of our main suppliers – lowering our supplier costs and allowing us to offer a more complete service.”
Dave Welch, HSBC Area Director for Business Banking in the East Midlands, added: “We are delighted to have supported First Fence and help the team expand their business. Vinny has some exciting plans for the future and we look forward to working with him as he continues to grow the business.”
The funding was arranged by HSBC Relationship Manager, Seeta Parmar.
First Fence supplies a wide range of security and temporary fencing, as well as offering traffic management and access solutions. The business has sites in Swadlincote (Derby), Tipton, Dartford, Bradford, Bristol and Scotland, and serves clients on a national and international scale, catering to a variety of commercial and industrial markets and the public sector.