Stanhay Webb deal
SEED drill specialist company Stanhay Webb of Exning, Newmarket, is now under new ownership after a buy-out deal.
Now headed by chief executive and main shareholder, Colin Love, new board members have been appointed in the sales, technical and finance departments.
The buy-out deal – for an undisclosed sum – was financed by Nat West which provided a complete funding package, including medium term debt and working capital facilities.
Two former shareholders, Mike Heywood and Allan Marshall are reported to be staying on for a time with the company to act as consultants and help ensure a smooth transition. *