The Stone Story

Sebastian Green and Dean F. Berry
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Sebastian Green: University College
Dean F. Berry: The MAC Group

Chapter 2 in Cultural, Structural and Strategic Change in Management Buyouts, 1991, pp 49-75 from Palgrave Macmillan

Abstract: Abstract On 7 March 1982, Stone-Platt Industries was put into receivership. Two months later, the electrical division of the failed group was snapped up from the receiver by three of its former executives, Robin Tavener, John Oratis and Bill Silvie, and an outsider, Peter McGrath. With institutional backing, Robin Tavener and his team clinched an ambitious management buyout in the face of stiff competition from third-party buyers. They paid £14.8 million for all the Stone-Platt electrical companies including 11 overseas operations from India to the US and a valuable 14-acre factory site in Crawley. They christened the new company Stone International.

Keywords: Order Book; Stiff Competition; Electrical Division; Receivership Period; Management Buyout (search for similar items in EconPapers)
Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-21559-1_2

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DOI: 10.1007/978-1-349-21559-1_2

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