Former Stobart Group boss Andrew Tinkler has staged a comeback in the business world with a rescue package for a national firm.
Mr Tinkler, with a former Stobart Group colleague Ben Whawell are behind Svella, which has created a £24 million refinancing deal for infrastructure firm nmcn plc.
Under the deal, Mr Tinkler’s vehicle will provide a bridging loan of £10m and new equity during the summer of nearly £15m that will effectively give the entrepreneur a controlling stake in nmcn, it has been reported.
Completing the deal would protect thousands of jobs at nmcn and in its supply chain, the sources said.
Mr Tinkler was a driving force behind Stobart Group. But in 2020, he sold all his shares in the group.
The group’s former chief executive held an almost five per cent stake, which was worth around £20 million.
He was the company’s fifth largest shareholder.
Mr Tinkler was sacked from Stobart Group, which owns Carlisle airport, in 2018 in a boardroom battle which ended up in the High Court.
Stobart Group won the case in February 2019 and the dismissal was found to be lawful.