December 2006 - mhl support acquired by Bibby Line Group

mhl support, one of the UK's fastest-growing companies has been bought out in a multi-million pound deal by the Bibby Line Group Limited.

As part of the acquisition, the senior management team, including Nick McKay, the founder of mhl, will remain with the company. Bernard Hampson, chairman of mhl said "We are delighted to have successfully completed this sale to a business which values integrity, quality and level of services delivery as highly as we do."

"The partnership of mhl and Bibby is a powerful marketing and operating platform that will create a wider range of added value services for our clients."

Bibby Managing Director Sir Michael Bibby and Finance Director John Haymer will join mhl's board of directors. Bibby, which has a turnover of £291 million, is the largest independent 'debt factoring' organisation in the UK, providing financial services to over 6,000 small and medium companies. Sir Michael Bibby said "We have gained majority control of a business that presents an ideal fit with our investment criteria - strong growth potential, a consistent focus on delivering customer service excellence and a capable and committed management team with a proven track record."

Satvir Bungar of BDO Stoy Hayward, the Midlands-based corporate finance team who helped to initiate the deal, said "This is a further step in the strategic development of mhl, emphasising the firm's commitment to offering clients an intergrated range of outsourced services. The potential opportunities are vast".