Cobbetts LLP’s Leeds-based banking team has advised Barclays Corporate on its funding support for the employee buyout of children’s play equipment manufacturer, Sutcliffe Play.

Pontefract-based Sutcliffe Play was acquired by its employees via a £1.3m buyout from the firm’s founder, Robin Sutcliffe. Alongside Barclays Corporate, additional funding support was provided by the Baxi Partnership, Co-operative & Community Finance, Industrial Common Ownership Fund Plc and the Joseph Rowntree Charitable Trust.

Mark Davies, banking partner at Cobbetts in Leeds, said:  “We are delighted to have played our part in supporting this transaction, which realised the ambition of the Sutcliffe Play management team to place ownership of the business in the hands of its employees.”

The Leeds-based Barclays team was led by Jon Lowe and Jim Sparling.