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Management rescues Bayswater Tubes
The management team at Bayswater Tubes & Sections, a producer and fabricator of seam welded aluminium tubes, has bought the company from its administrator for an undisclosed sum. Post-completion the company trades as Beasmart Aluminium Tubes.
The buy-out team was supported throughout the transaction by law firm MLM. Its team comprised partner Jon Fernandez Lewis, corporate recovery specialist Alex Pay and solicitor Faris Dean.
Fernandez Lewis said with the company in administration time was crucial to the success of the deal.
“The involvement of several interested parties and their legal advisers added to the complexity of the deal and complicated the negotiations, which was a little unfortunate in a deal of this size,” he added. “However, we are delighted at the successful outcome for the management team and the opportunity it now has to take the business forward.”
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