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The Coalfields Enterprise Fund, the venture capital fund managed by Enterprise Ventures on behalf of the Office of the Deputy Prime Minister, has completed an investment in the management buy out of TC Wild Limited.

02/09/2005

Based in Sheffield, TC Wild manufactures forged precision rings for the aerospace, oil, gas and power generation sectors, and currently employs 39 people. TC Wild counts many of the leading manufacturers in these sectors amongst its customers. The company is experiencing significant growth in its order book driven by growth in all of its major markets.

Enterprise Ventures backed the six strong management team, which is led by managing director John Hancock, in the purchase of the business from the Gardner Group, the aerospace engineering firm.

The management team intend to further develop Wild’s position in their market, by increasing production capacity to address strong demand for its products. This is likely to lead to new job opportunities being created over the coming months. Paul Taberner, Investment Director with EV, says of the investment, “we are highly impressed with John and the rest of the team and their plans to grow the business. We also welcome the opportunity to support the MBO of TC Wild which has a niche position in its market and real growth prospects”.

John Hancock says “I am pleased to have the support of Enterprise Ventures in acquiring the business and welcome them as an investor. I am delighted that we can now implement our plans to further develop TC Wild as a key player within the sector.”

The transaction was arranged by Robson Rhodes in Leeds and was also supported by HSBC in Sheffield.