The Metsec Story

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

Chapter 3 in Cultural, Structural and Strategic Change in Management Buyouts, 1991, pp 77-94 from Palgrave Macmillan

Abstract: Abstract Metsec, a subsidiary of Tube Investments, was bought out by five of its senior executives in July 1981. Taking out personal loans and second mortgages, they paid £150000 for 60 per cent of the equity, the balance being subscribed by Investors in Industry Plc and Equity Capital for Industry Ltd. The total package price of £500000 represented a discount to net assets of more than 50 per cent. The company was trading at a small loss after a number of years of poor financial performance.

Keywords: Equity Capital; Share Capital; Customer Relation; Infill Panel; Reasonable Team (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_3

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DOI: 10.1007/978-1-349-21559-1_3

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