Blackburn electrical company undergoes MBO

A Blackburn electrical firm has been sold in a management buy-out that will keep it under the control of some of its longest-serving and most experienced staff, according to the new owners.

The buy-out of LC Automation was led by the company's financial director, Phil Dowell, who joined with other long-term employees of the company to take it on, following the retirement of its founder.

"The buyout ensures the company remains in the hands of the people who know it best," explained Mr Dowell, who first joined in 1996 as company secretary. "It also allows us to continue to expand and diversify the business."

LC Automation, which offers tailored solutions to manufacturing companies, saw a 25 per cent increase in turnover last year after all employees took flexible working hours to aid the business through the recession.

The new managing director, Malcolm Chadwick, said the team of directors has grown from two to four, all of whom have worked their way up through the ranks of the business and have exceptional loyalty to it.

"The new structure will deliver excellent customer service and help our customers to improve efficiency by using the latest technology and expertise," he said. Accountants Pierce acted on the deal with Forbes Solicitors, and NatWest provided finance.

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