Family-run engineering firm KMF Group has been fully bought out by its founding family with the backing of a seven-figure funding package from HSBC UK, almost 50 years after the company was established.
The MBO sees founding director Michael Higgins, and sons Gareth and Daniel, who have worked at the business for a combined 85 years, take full ownership of KMF. The Higgins family
worked with HSBC UK to secure the MBO after the group’s former co-owner, Dacoll Enterprises Ltd, sought to sell its 50% stake.
Following news of the buyout, the group has confirmed ambitious growth targets as part of its 50-year anniversary in 2021. The firm will focus on continued technological investment and further market expansion via its two growing sheet-metal manufacturing facilities. KMF Group employs over 500 people in factories located in Newcastle-under-Lyme, UK and Trencin, Slovakia.
For further information www.kmf.co.uk