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Keltruck bosses buy TruckEast with backing of Nordic bank
26th April 2007, Page 18
26th April 2007
Page 18
Page 18, 26th April 2007
— Keltruck bosses buy TruckEast with backing of Nordic bank
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Keywords :
Bank Failures, Glitnir, Corporate Finance, Management, Buyin, Management Buyout, Banks, Investment, Financial Economics, Business / Finance
FORMER KELTRUCK directors John Biggin and Simon Hobson have bought another Scania dealer, TruckEast, in a buyin/management buy-out deal worth more than Z-I0m.
In 2006 TruckEast had a turnover of £65m with an operating profit of E1.2m. It operates from a dozen sites across the eastern counties.
The new management team was backed by Nordic investment bank Glitnir; Glitnir Integrated Finance holds a minority stake.
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People:
John Biggin, Simon Hobson