News Room

Successful recapitalisation of Plaxton

Aberdeen Asset Managers Private Equity has completed the recapitalisation of Plaxton, the UK's leading manufacturer of luxury coaches and buses.

The recapitalisation follows the strong performance of the business since Aberdeen supported the management buy-out from Mayflower Corporation in May 2004.

This transaction gives the business a solid platform from which to increase its recently launched bus models – the Centro and Primo. Since launch, the new products have been extremely well received by the market and underpin the business's reputation for both high quality design and manufacturing from a UK base.

Barclays supported the deal alongside Aberdeen with the provision of significant new working capital facilities. In addition, the transaction has allowed Aberdeen to report a significant interim return to our Limited Partner investors.

Brian Davidson, Chief Executive, Plaxton, commented: "With the support of Aberdeen, I am delighted to have concluded this successful recapitalisation. This gives the business a solid foundation from which to move forward and the prospects for our business remain very strong. We are also delighted with the success to date of or new commercial bus models."