Abstract
On 7 March 1982, Stone-Platt Industries was put into receivership. Two months later, the electrical division of the failed group was snapped up from the receiver by three of its former executives, Robin Tavener, John Oratis and Bill Silvie, and an outsider, Peter McGrath. With institutional backing, Robin Tavener and his team clinched an ambitious management buyout in the face of stiff competition from third-party buyers. They paid £14.8 million for all the Stone-Platt electrical companies including 11 overseas operations from India to the US and a valuable 14-acre factory site in Crawley. They christened the new company Stone International.
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© 1991 Sebastian Green and Dean F. Berry
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Green, S., Berry, D.F. (1991). The Stone Story. In: Cultural, Structural and Strategic Change in Management Buyouts. Palgrave, London. https://doi.org/10.1007/978-1-349-21559-1_2
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DOI: https://doi.org/10.1007/978-1-349-21559-1_2
Publisher Name: Palgrave, London
Print ISBN: 978-1-349-21561-4
Online ISBN: 978-1-349-21559-1
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