Management Buy Out of PLC subsidiary manufacturing automotive components, trading at a substantial loss. Through discussions with existing management we identified the opportunity and validity of the MBO. With input from functional consultants across The Penn Group practice the whole programme was devised and delivered within time scale and to budget which included current business evaluation, corporate strategy, market evaluation and business and post acquisition integration, planning, business planning and the identification, negotiation and delivery of funding options. The business was turned around successfully to profit within its first twelve months as planned.