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Cambria Automobiles chief executive Mark Lavery has said that he looks forward to “capitalising on the growth opportunities ahead” after agreeing the terms of the group’s management buy-out (MBO).
Cambria Bidco Limited to be effected by means of a scheme of arrangement under Part 26 of the Companies Act 2006 Summary The Independent Committee of directors of Cambria Automobiles plc ( Independent Committee and Cambria respectively) and the sole director of Cambria Bidco Limited ( Bidco ) being a company ultimately owned and controlled by Mark Lavery, are pleased to announce that they have reached agreement on the terms of a recommended cash offer ( Cash Offer ) to be made by Bidco for the entire issued and to be issued share capital of Cambria other than those Cambria Shares owned or controlled by Bidco ( Offer ).