NatWest gets Select MBO off the ground

Managing director Tim Darwell-Taylor has led a £4m management buyout of Select Prospects, an airline outsourcing firm.

NatWest Development Capital provided £1.5m of equity investment and Barclays provided debt facilities.

Darwell-Taylor, who joined Select in 1997 and is credited with the company’s rapid growth since, will remain managing director.

The MBO team was advised by Pitmans and Deloitte & Touche.

NatWest Development Capital is part of the Royal Bank of Scotland’s private equity group.