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The Metsec Story

In: Cultural, Structural and Strategic Change in Management Buyouts

Author

Listed:
  • Sebastian Green

    (University College)

  • Dean F. Berry

    (The MAC Group
    The London Business School)

Abstract

Metsec, a subsidiary of Tube Investments, was bought out by five of its senior executives in July 1981. Taking out personal loans and second mortgages, they paid £150000 for 60 per cent of the equity, the balance being subscribed by Investors in Industry Plc and Equity Capital for Industry Ltd. The total package price of £500000 represented a discount to net assets of more than 50 per cent. The company was trading at a small loss after a number of years of poor financial performance.

Suggested Citation

  • Sebastian Green & Dean F. Berry, 1991. "The Metsec Story," Palgrave Macmillan Books, in: Cultural, Structural and Strategic Change in Management Buyouts, chapter 3, pages 77-94, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-21559-1_3
    DOI: 10.1007/978-1-349-21559-1_3
    as

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