PRINT THIS PAGE UK mid-market private equity firm Gresham backs MBO of Olaer16/09/2005. Source: AltAssets. 
UK mid-market private equity firm Gresham, through its Gresham III fund, has backed the management buy-out of Olaer, a specialist in the design, assembly and support of 'accumulators' (pressure regulators) and coolers for industrial hydraulic markets. The vendor is Expamet International. Financial details of the transaction have not been disclosed but experts reckon the value of the transaction is around £40m. Olaer, headquartered outside Chester, sells its products worldwide. The company has facilities in the UK, Scandinavia, France, USA and Switzerland.
Gresham outbid both other financial buyers and trade buyers in the auction.
Edward Brett, the director at Gresham who led the deal for the firm together with Neil Scragg, Tim Whittard and Mike Henebery, said, 'Gresham is delighted to have backed the MBO of Olaer given the strength of its industrial pedigree and strong technical base. Olaer has a strong market position and operates in growth markets. We are backing a management team with the operational skill set to grow and develop the business further.'
Gresham invests in UK mid-market companies typically valued between £5-75m. The firm has offices in London, Birmingham and Manchester.
Gresham III closed on £237m in August 2004.
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