An award-winning automation and packaging machinery specialist based in Somerset has been acquired in a management buyout (MBO).
The senior management team at CME Ltd, led by chief executive Paul Knight, have completed on a debt funded MBO of the company from the Mear family who have owned the business since its incorporation 37 years ago by founder Colin Mear. The sale to the senior management team was said to reflect the trust placed by the family in the new owner's ability to continue to build upon a heritage of providing innovative automation services to a global customer base. Roxburgh Milkins advised the management team on the deal.
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