Southampton-based CJR Propulsion completes management buy-out

There's to be a management buyout of the Hampshire based engineering firm CJR Propulsion Ltd. As recommended by corporate finance advisors Meridian.

Since its founding in 1948, CJR has been a pioneer in their industry, producing precision-engineered propeller and sterngear systems that are employed by several commercial, recreational and superyacht companies.

The firm has grown steadily thanks to their investment in cutting-edge technology and this deal gives management the tools they need to promote commercial growth.

Mark Russell is the Director of CJR and said this about the buyout: “It was clear to me that the help of a corporate finance company to sell CJR was essential. We had been talking to Meridian for a while but selling the business outright was a big step to take."

"Meridian advised a MAMBO, essentially a management buy-out, and it seemed the perfect solution of a staged exit from the business. Meridian’s advice and support was excellent throughout the process, it was a total pleasure dealing with them and their legal and tax partners."

Prabin Sunar, a manager at Meridian, added: “Having worked with the CJR team for several years, it was a great pleasure to deliver the MBO for them. CJR is an extremely well-known brand within the marine sector, and we wish the team the very best as they navigate the next stage of their growth.”

Main picture courtesy of CJR Propulsion

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