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Case study
Sale of CMG Technologies
Scrutton Bland’s client, CMG Technologies Ltd (“CMG”) was founded over 20 years ago in Suffolk, UK.
They specialise in Metal Injection Moulding (MIM), providing injection moulded components to the medical, aerospace, automotive and industrial sectors. In this niche, CMG are well positioned as one of only a handful of manufacturing companies in the UK with this expertise.
CMG have been a client of Scrutton Bland for over 10 years and, as well as advising them on the management buyout from their previous owners in 2013, Scrutton Bland have supported the team with financial management projects such as the introduction of cloud-based digital accounting, bookkeeping services and the migration of accounting software.
The client challenge
Over the past five years, CMG Technologies encountered many challenges that put stress on their business operations. Despite their niche, the industry is highly competitive, requiring CMG to continuously invest in research and development and in business operations to maintain their advantage.
The solution
CMG supported the UK 4 Day Week Campaign, a nationwide pilot initiative. As a result, they experienced a boost in productivity and profit as well as an improvement in their team’s work-life balance and overall wellbeing.
This innovative business practice saw CMG Technologies win multiple awards and their success, together with support from Scrutton Bland, saw them attract the attention of Indo-MIM Group, a leading global manufacturer of precision-engineered products. Recognising the synergies between the two businesses, and presenting scope to increase market share within the UK, Indo-MIM expressed interest in acquiring CMG Technologies, which marked a significant milestone in CMG’s journey.
Value
Scrutton Bland’s team brought together a wealth of experience, professionalism, and industry knowledge to facilitate a successful transaction. Their offering included, due diligence, transaction advisory, agility, and ongoing support. When the deal was completed, they continued to work with the CMG team by engaging with Leonard Curtis Business Solutions Group, another Nexia member, to support the former shareholders with a reorganisation of CMG and the solvent liquidatation of its holding company, which was no longer required..
Their collaboration with CMG Technologies extended beyond a mere advisory role, they became trusted Partners in their journey towards growth and success. Scrutton Bland’s support was characterised by expertise, collaboration, diligence, and client-centric approach.
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