January 10, 2024

Evolve Corporate Finance advises Metpro on £21.5 million investment from BGF and NatWest

Corporate finance specialists Evolve Corporate Finance has advised Metpro, a high-growth manufacturer and distributor of cable management products, on its £21.5 million investment from BGF and NatWest.


Metpro, founded in 1995, is a Birmingham-based business which has built a strong reputation for designing and manufacturing value-added cable management products and accessories for a wide range of industries and sectors, including European wholesale and original equipment manufacturer (OEM) markets. Their product range includes steel conduit tubes, channel lengths, bracketry, and many other associated products and is best known for its innovative fast-fit conduit system, Conlok®.


The investment will support Metpro’s ongoing product innovation and enable the company to meet increasing customer demand, benefiting from significant market drivers such as electrification, infrastructure investments, and labour shortages. It will also enable Executive Chairman, Arthur Rudge to divest an element of his shares.


A multi-disciplinary team from Evolve advised Metpro’s management team on the investment including partner and founder, David Neate, and partner and debt advisory lead, Peter Talbot. David and Peter were supported by Doug Allan, Manager, and Harry Ferguson, Associate.


David Neate, partner, and co-founder at Evolve Corporate Finance added: “Metpro is a good example of a Midlands success story, with its dynamic, entrepreneurial, and innovative team driving growth, it has successfully built a market-leading reputation in its sectors. This funding round will enable the company to fully capitalise on the market opportunity and we are delighted to have supported the team in finding the right funding partners.”

Arthur Rudge, chairman and majority shareholder commenting on Evolve said: “We appointed Evolve as they promised a partner-led approach.  As owner-managers, Evolve understood our agenda from the start and was instrumental in finding the right private equity partner for Metpro. They understood our criteria and displayed a commitment to achieving a great result for the shareholders and business. I would have no hesitation in recommending them to others.”

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