Grimsby’s MRO+ Solutions gets private equity backing and eyes acquisitions

Trending Today

Maintenance and repair specialist MRO+ Solutions Limited has secured the backing of NVM Private Equity in a deal that will give the Grimsby group acquisitive fire power.

MRO includes process instrumentation and control products distributor MJ Wilson and tooling specialist Helix Tools. NVM says it is backing the £16.7m turnover group’s incumbent team led by Matt Cattell, who joined four years ago.

The undisclosed agreement with NVM has brought to the table funding for acquisitions with the private equity SME specialist saying MRO’s market is ripe for consolidation. It will also see Kevin Appleton join MRO’s board as non-executive chairman. He is said to bring significant experience in the distribution sector and expertise in M&A.

NVM says MRO has outperformed its market with impressive organic growth thanks to a strategy which sees its engineers become deeply embedded in customers’ business. MJ Wilson supplies a range of clients in the energy and process industries while Helix, which is based out of Leeds, provides technical support to precision manufacturing clients.

Matt Cattell, managing director of MRO+ Solutions, said: “We are thrilled to join forces with NVM Private Equity. This partnership will enable us to further strengthen our position in the market and capitalise on new opportunities, through organic and acquisitive growth. With NVM’s support, we are confident that we can continue to deliver exceptional value to our customers and team members, driving long-term success for our business.”

NVM’s investment was led by Charlie Pidgeon, Oliver Wildig and Mauro Biagioni. The move means NVM is on course to complete nine deals in less than eighteen months. Mr Pidgeon, investment partner of NVM, said: “We have been highly impressed with the quality of the senior leadership team, the growth they have achieved and their vision for the future. We look forward to fully supporting the team in achieving their organic growth plans and pursuing acquisitions to consolidate what is a highly fragmented market.”

NVM was given legal advice by Womble Bond Dickinson; commercial due diligence was supplied by Fairgrove; financial due diligence by BDO; management due diligence by Continuum; insurance due diligence by Lockton; tax structuring by Deloitte, and vendor corporate finance by Arrowpoint Advisory. MRO and its management was provided with legal advice by Browne Jacobson.

Original artice – https://business-live.co.uk/all-about/yorkshire-humber

Now Playing

Recently Played

Latest News

Government launches sentencing review to tackle prison overcrowding

Same day that around 1,100 inmates are due to be freed The Government is launching a sentencing review that will consider options to hand offenders tougher punishments outside of prison as part of efforts to ease overcrowding. Justice Secretary Shabana Mahmood is launching the review on Tuesday, the same day that around 1,100 inmates are due to be freed as part of the Government’s policy to free up prison space. The review, chaired by former justice secretary David Gauke, aims to explore tougher punishments outside of prison while making sure there is space to incarcerate the most dangerous offenders. “We have an opportunity now to reshape and redesign what punishment outside of a prison looks like,” Ms Mahmood said. It will consider using technology to place criminals in a “prison outside prison” and forcing offenders to do work in the community to give back to society. The Government is looking to foreign jurisdictions for ideas about how this could work, such as in Texas, where authorities have used good behaviour credits. Punishments outside of prison could involve using “nudge” technology, sobriety tags or home detention curfews. Nudge watches or apps could be used to encourage compliance with conditions imposed on offenders. A senior prison service source said: “We are particularly interested in nudge technology, like a wristwatch that says: ‘Have you got in touch with your probation officer? Have you turned up at your mental health treatment appointment?’ They’re not things that restrict your liberty, but they are very helpful in terms of behaviour compliance and nudge compliance.” Community alternatives and fines instead of prison time will be examined, as will the impact of short custodial sentences. The review will also consider whether more can be done to tackle prolific offending and crimes committed against women and girls by drawing sentences that reflect the severity of the act. Ms Mahmood said: “We want the review to consider the broader framework when it comes to sentencing, particularly because in order to meet our commitment on halving the levels of violence against women and girls. “Obviously, sentencing time in prison has a role to play, but prevention has a big role to play as well. “I would fully be expecting them to be looking at sex offenders and sex offences within the scope of this review. ” Ms Mahmood announced plans in July to temporarily reduce how much of their sentences inmates must serve behind bars from 50% to 40% as the Ministry of Justice said overcrowding had pushed jails to the “point of collapse”. The first release of around 1,700 prisoners from jails across England and Wales started on September 10. The latest tranche, starting on Tuesday, has expanded eligibility to include those serving sentences of five years or more. Prisons are expected to reach critical capacity again by July. The number of prison spaces fluctuates, but it is understood there are some 89,000 prison spaces in total. The Government has committed to creating 14,000 additional prison spaces. The findings of the sentencing review will be submitted by Spring of next year. The results of the review are expected to take effect by March 2026 at the earliest. Mr Gauke said: “Clearly, our prisons are not working. The prison population is increasing by around 4,500 every year, and nearly 90% of those sentenced to custody are re-offenders. “This review will explore what punishment and rehabilitation should look like in the 21st century, and how we can move our justice system out of crisis and towards a long-term, sustainable future.” Mr Gauke argued in 2019, when he was justice secretary, that there is a “very strong case” for abolishing jail terms of six months or less, with exceptions made for violent and sexual crimes. The Prison Reform Trust said Mr Gauke would step down as a trustee from the charity while he is chairing the review. The trust said the average prison sentence for serious, indictable offences is now 62.4 months — almost two years longer than in 2010. Mr Gauke told the BBC the last three decades had seen “governments of all colours have been very quick to announce new and longer prison sentences, and not so quick to expand prison capacity. “It is the case that the prison population is growing faster than we can build prisons,” he said. Mr Gauke added his role would explore whether new technology could play a bigger role in punishment and rehabilitation outside prison. “We now have access to electronic tagging that is more sophisticated than was the case in the past, we can do drink and drug monitoring,” he said. “I think that does raise questions as to whether we can do more with people out of prison. there’s a proper punishment, the public is protected but they’re better placed to be rehabilitated.” Mark Day, deputy director of the Prison Reform Trust, said: “The current capacity crisis has bought our criminal justice system close to collapse. Emergency measures are not a long-term solution. We urgently need to get to grips with runaway sentence inflation which has contributed to chronic levels of overcrowding and driven prison numbers and our use of imprisonment up to an unsustainable level.” The Law Society welcomed the review, saying: “It is high time for an examination of alternatives to the use of custody, which is an expensive and often counterproductive form of punishment.” The cost of punishment outside prison is estimated at around £5,000 annually per person compared with more than £50,000 to imprison someone for a year. Published: 22/10/2024 by Radio NewsHub

Police marksman cleared of shooting murder of Chris Kaba

40 year old Martyn Blake stood trial at the Old Bailey after shooting the 24 year old through the windscreen of a car The police marksman who fatally shot Chris Kaba has been cleared of his murder. Martyn Blake, 40, stood trial at the Old Bailey after shooting the 24-year-old through the front windscreen of an Audi Q8 in Streatham, south-east London, on September 5 2022. The car had been used as a getaway vehicle in a shooting the previous evening, and was hemmed in by police cars in Kirkstall Gardens after an officer recognised its registration number. Mr Kaba drove backwards and forwards trying to ram his way free, which Mr Blake told jurors made him believe one of his colleagues was about to die, and so he opened fire to stop the car. A fellow firearms officer known as DS87 said he would have taken a shot if Mr Blake had not, and another identified by the cypher E156 said he was “fractions of a second” away from doing the same. Another, NX109, got the finger of his glove caught in the Audi’s door handle and just managed to wrench it free as it moved forward, telling the jury he thought he would be dragged between it and a Tesla parked nearby. Prosecutors argued that Mr Blake had misjudged the risk, exaggerated the threat to his colleagues in statements following the shooting, and had aimed at Mr Kaba’s head, all of which he denied. In his defence, jurors heard a series of glowing testimonials from colleagues and senior officers. Defence barrister Patrick Gibbs KC said Mr Blake was no “RoboCop”with the “nanosecond” reactions of a computer. He told jurors: “He is not a robot, he is a human being with a human brain who did this to the best of his ability.” Police watchdog the Independent Office for Police Conduct will now consider whether Mr Blake should face a disciplinary hearing. Questions have already been raised about how firearms officers are held to account in fatal shootings, with dozens of Mr Blake’s colleagues downing tools when he was first charged with murder. Police bosses raised concerns that officers would no longer be willing to volunteer to take on firearms training due to the levels of scrutiny that they could face if they had to take a fatal shot. Mr Blake had never fired a gun at a human being, or seen a gun fired at a human being, before the night Mr Kaba died. The jury heard that those close to Mr Blake had been hesitant about him becoming a police marksman but that he felt it was “the best job” in the Metropolitan Police. Official figures show that in England and Wales in the year to March 2023 there were 18,395 police firearms operations. Police weapons were deliberately fired at 10 of these incidents, resulting in three fatalities. Published: 21/10/2024 by Radio NewsHub

The V.I.P Club 👑

Join the V.I.P Club and receive exclusive special offers, competitions and amazing prizes. It’s FREE and easy to do!

ON AIR NOW:

Grimsby’s MRO+ Solutions gets private equity backing and eyes acquisitions

Now Playing

Recently Played

Latest News

Government launches sentencing review to tackle prison overcrowding

Police marksman cleared of shooting murder of Chris Kaba

Follow us

The V.I.P Club 👑

Back to top

We are Proud Members of

Station Sponsor

Sponsors

Contact: