Dark horse goes for York
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• A third party is on the verge of buying the UK business of Corbybased trailer manufacturer York Group, despite interest from potential management buy-out teams. A decision is due by Friday.
Two teams, one headed by York's managing director Jim Davies and the other by Mike Tweddle, managing director of Abel Demountables, are understood to have examined the prospects of management buyouts for parts of the UK business.
Davies is known to have talked to venture capitalists about acquiring Thermostar, the profitable refrigerated trailer business with a turnover of about £16m. The Abel Demountables team would want to acquire its own business, which manufactures demountable bodies and drawbars and has a turnover of £1.8m.
However, a third party has already agreed to a deal which could be signed this week, according to York. Davies says rumours of his current involvement in a buyout are "totally untrue".