CCC

Cooper Coated Coil

Specialists in pre-coated metals

The Business

Cooper Coated Coil is Europe's largest producer of high quality non-stick coated metal, which it sells into the bakeware, printing and automotive industries.

The Deal

We originally invested £11.5m backing the management team of West Midlands-based Arc Specialist Engineering in a buyout of the diversified engineering group from a private turnaround investor. This was a complex deal acquiring several individual businesses, all with different operational and market dynamics, simultaneously. We were able to complete on a tight timetable by taking a pragmatic and commercial view on underlying asset value.

The Plan

All of Arc’s non-core businesses have now been sold and the proceeds were used to repay all the acquisition debt and a material amount of our loan notes, within 12 months of completion, earlier than planned. We are now focused on developing CCC as the sole remaining asset from Arc and cementing its position as a technological leader in the market for pre-coated metal.

CCC is implementing a rigorous operational improvement programme to free up trapped capacity and improve its operating margins. Although the supply of high quality non-stick coated steel to the bakeware industry remains core to CCC, its technology-led approach to new product development has seen the business develop substantial sales in several other industry sectors.
 

Cooper Coated Coil
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“I first worked with Richard over 10 years ago when I was brought in as Chairman to lead a turnaround of an underperforming manufacturing investment. It was a demanding, stimulating and ultimately rewarding experience as we exited three years later at a money multiple in excess of 6 times. Richard was straightforward to deal with and his observations and conclusions were always backed up by the appropriate intellectual rigour. Given this history, when a suitable opportunity arose again in the manufacturing space with Mobeus, I was delighted to renew our relationship”.

Nick Ward
CCC, Executive Chairman