Thu, 22 Aug 2013 | BUSINESS SALE
Precision engineering firm Ridgeway Products has been successfully sold on to new owners Peter and Valerie Harpham.
The deal, enabled by funding from RBS, has secured the jobs of the existing staff at the Leeds-based operation, with additional job creations expected in the coming months.
RBS gave the new owners an Enterprise Finance Guarantee Scheme loan to help cover the costs of buying the business, its leasehold and assets.
Ridgeway Products offers specialist precision engineering and instrument making to its network of customers across the globe.
With the transaction completed, the business has connected with RBS Invoice Finance (RBSIF) to help with the funding needed to bring expansion plans to fruition and buy new machinery.
Mr Harpham, managing director of Ridgeway Products, commented: “Having worked in the industry for many years I was very keen to undertake the purchase of this business given its strong financial performance and future potential.”
Stephen Ebsworth, relationship manager at RBS, added: “As a bank we fully recognise the potential that Peter and Valerie saw in Ridgeway Products Limited and were happy to provide funding for them.
“The business has a strong trading history and, along with the new owners’ experience in the industry we are confident that the short-term funding we have provided will help them to expand the organisation.”
____________________________________________________________________________
Related articles:
Precision engineering firm Rimor in change of ownership
Read more about buying a business
View the latest businesses for sale
A rare chance to acquire a Midlands-based retail designer renowned for custom shop fittings and innovative design solutions, complete with in-house design and manufacturing capabilities.
This mixed dental practice offers a predominantly private service with the addition of NHS general and orthodontics contracts, benefiting from a large and loyal patient base as well as a thriving hygiene function.
LEASEHOLD
This is a reputable drainage solution company with a long-established presence and an excellent reputation in Somerset.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.