Geldards advises Development Bank of Wales on another investment to support a local MBO

Geldards has successfully advised the Development Bank of Wales on its investment to support the management buy-out of Tredegar-based structural and basement waterproofing business Atal UK.

Established in 2012, the company provides structural and basement waterproofing services along with ground gas protection solutions for architects, contractors and groundworkers throughout the UK. General Manager Dominic Thew who joined the firm in 2015 will take over from business founder David Rees in a move to ensure business growth, safeguard company legacy, protect jobs and ensure service continuity.

The investment by the Development Bank includes a mix of equity and loan funding from the £25million Wales Management Succession Fund.

The Development Bank was advised on the investment by the Geldards Corporate team led by Partner Alex Butler and supported by Solicitor Jamie East.

Alex Butler, Corporate Partner at Geldards commented:

“Geldards were delighted to support Scott and the team at the Development Bank of Wales on another investment from its Management Succession Fund. Succession planning remains a live issue for many Welsh businesses and their owners.  Continued support from the Development Bank’s management succession fund is helping to secure the future of many businesses in Wales for the benefit of its employees and wider communities.”

Scott Hughes, Senior Investment Executive at the Development Bank, said:

“We were pleased to work with Alex and Jamie on this investment, which has safeguarded jobs at Atal and protected its legacy. The advice and work provided by Geldards ensured we were able to complete the deal process smoothly, and we’re grateful for their support.”