Advising Connection Capital on MBO of Winder Power Holdings

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Gateley Legal

We have successfully advised Connection Capital and its investor clients on the management buyout of Leeds-based Winder Power Holdings.

Connection Capital’s investment will be used to support the MBO and provide working capital to help Winder Power Holdings meet the growing demand for power transformers driven by the decarbonisation of the energy sector with the phasing out of fossil fuels and scaling up of renewable energy.

The MBO has been led by an experienced management team comprising current CEO Paul Matthews, alongside Financial Director Andy Mill, Site Services Director Andrew Pinkey, and Operations Director Mark Henson.

Established in 1899, Winder Power (Winder) designs, manufactures, deploys and manages distribution transformers and power transformers for the utilities, renewable energy, and industrial sectors, both in the UK and internationally.

The company currently employs 120 staff at its 80,000 sq. ft plant in Pudsey near Leeds. Its clients are both network operators and private industrial clients, including SSE plc, Northern Ireland Electricity, Electricity North West, Scottish Power, GE Energy, Drax Power, Ineos Chemicals and Air Products.

The cross-office collaboration of our team was led by head of corporate for Gateley Legal in Nottingham Victoria Elliott, alongside Claire Stretton, Sophie Cahalin and Daniel Statham (corporate), Karem Al-Dahleh, Ginny Tan, Chris Jones (banking), John Gumery (tax), Helen Webster (employment) and Colin Gittus (property).

Victoria Elliott, said: “We were delighted to have acted for Connection Capital on their investment with a multi-disciplinary team that showcases the strength and depth of our national practice.

“The new management team at Winder has a wealth of experience and knowledge in the sector. With the backing of our long-established client Connection Capital and its investors, this deal will enable Winder Power to take full advantage of the accelerated growth opportunities that will present themselves both in the UK and internationally as countries look to reach the 2050 net zero targets in line with the Paris Agreement.”

We have acted for Connection Capital since 2009.

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