The funding including a debt package from NatWest Structured Finance has enabled the management team of Phillip Jones, David McLaren and Jon Dibble to acquire the business from its retiring owner.
James Tobias builds dividing walls, which are also cupboards. The company’s products also include lockers, media walls and operable walls.
The company operates a manufacturing facility in Bridgwater, Somerset and employs more than 50 people.
Altitude co-founder Jonathan Simm said, “We are very excited by the opportunity to work with the management of James Tobias Ltd to take advantage of the market growth opportunities and to build a bigger business in coming years. We hope to increase local employment in Bridgwater as the business expands.”
Copyright © 2014 AltAssets