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Plastic Surgeon Fine Finishers, a cosmetic repair services provider to the UK construction and housing industry, has undergone a management buy-out led by MD Rob Mouser and backed by Matrix Private Equity.

The Matrix’ investment totals £2 million – comprising an integrated debt and equity package – and sees the investor take an initial 30 per cent stake in the business.

Tim Ross at Matrix, whose previous board appointments include George Wimpey, Connaught and May Gurney, will join Mouser on the Plastic Surgeon board as chairman.

Michelmores’ partner Stephen Morse advised Matrix on its investment and says: “Michelmores has had a good relationship with Matrix for several years, but this is the first time that the firm has been instructed to act for Matrix in a transaction such as this.”

He also points to the fact that most of the accountants and lawyers acting on the deal were based in Exeter, and considers this confirmation of the presence of experienced advisers in the West Country.

Old Mill Corporate Finance conducted financial due diligence on behalf of Matrix and the management team, to whom the boutique also gave tax advice.

The Exeter-based business serves UK house builders, including Barratt Homes, Taylor Wimpey and Bovis Homes. Clients in the commercial property market include ROK, Kier, Carillion Construction and in-home service providers such as British Gas. The company employs 160 people and generates annual revenues of £6 million.

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