Automotive engineering

Automotive Engineering Company MBO Wins Deal of the Month | Central and Eastern offers

lr: Michael Sheridan, George Lendrum, Eamonn Byrne, Oz Timms, Diana Thomas, Oliver Sutton, Geoff Hazlewood, Lake Falconer and Samuel Reynolds

The management buyout of a St Neots-based engineering company that started life as a motor racing team has been named January’s Deal of the Month.

Titan has expanded into consumer automotive engineering over the past decade and is now a component supplier to high performance vehicle manufacturers while developing and supplying complex steering technologies for advanced vehicles.

Oz Timms and Diana Thomas are retiring after 40 years and transferring ownership to a new team of shareholders consisting of George Lendrum (CEO), Eamonn Byrne (CFO) and Michael Sheridan (COO). The new shareholders have been part of Titan’s management team for several years.

Speaking at the time of the deal, chief executive George Lendrum said: “Titan’s change of ownership is an important milestone for the business. Oz and Di deserve a lot of respect for the way the business is doing. is developed, and we will continue on the same path we have followed in recent years.

“There are many exciting and innovative projects underway in the automotive industry today, and Titan has worked diligently to be part of the electric revolution as a provider of innovative power and autonomous steering technologies. The company is also diversifying its offering into adjacent scientific markets requiring similar manufacturing services.”

Advisors who worked on the deal included PEM Corporate FinanceShawbrook Bank, Birketts and Legal Ashtons.

Ensors has represented Oz Timms and Diana Thomas.