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Brabners Chaffe Street advises on management buyout of HQC
17/03/2011

Leading North West law firm Brabners Chaffe Street has advised on a management buyout of HQC Holdings Limited, HQC Developments Limited and HQC Limited.

The component manufacturer was sold by former Managing Director, Keith Parkes for an undisclosed figure to the existing senior management team with new investors coming in at the same time. The finance for the deal was provided by Lloyds Bank and a private investor group.

HQC was founded in Merseyside in 1986. The company, located in Haydock, designs and manufactures sheet metal components and assembly services for a global customer base in telecommunications, computing, medical, industrial sectors employing around 60 employees. In March 2004 Keith Parkes led a management buyout by members of the company's senior management team, with the full and ongoing support of the departing owners.

Denise Walker, Liverpool Head of Corporate at Brabners Chaffe Street comments: “It has been difficult to fund management buyouts in the current economic climate so we are extremely pleased with the successful funding and completion of this deal. We last sold HQC 13 years ago and it is a business with a long and successful track record. It was good to be involved with this business again! With positives signs like these, we are hopeful of seeing continued recovery in the finance market.”

Keith Parkes, former Managing Director of HQC said: “Given the continued investments made by the company in plant, equipment and infrastructure HQC is now in an excellent position to continue its growth in its chosen markets offering a level of service and quality of products which is second to none. Working as part of the ‘HQC team' over the last 10 years developing and extending the capability and service the company is now able to supply has been an extremely rewarding experience. Exiting HQC will allow me to focus attention on a ‘new business' opportunity, which involves the development, manufacture and supply of a fully integrated PC based system intended for the education sector in addition to a number of consultancy opportunities.”

The legal team at Brabners Chaffe Street was led by Liverpool Head of Corporate, Denise Walker and included Corporate Associate, William Ngan, Employment Partner, Nick Campbell, Property Partner, Mark Glenville and trainee Solicitor, Ellen McDermott.

Other advisors on the deal included Brabners Stuart, who provided Keith Parkes with corporate finance advice. Semple Frazer and CLB Coopers advised the purchaser and Stripes Solicitors advised the existing senior management team at HQC.

The existing senior management team at HQC is made up of newly appointed Managing Director Eoghan McTiernan, Finance Director, Shelia Bowden and Operations Director Peter O'Neale.


For further information contact Denise Walker at Brabners Chaffe Street on 0151 600 3000

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