Mon, 07 Nov 2016 | MBO/MBI
A Bradford-based manufacturer of control panel systems, which counts Siemens and Unilever among its partner base, has been acquired in a management buyout (MBO).
Southern & Redfern Industrial Solutions Ltd was bought by its managing director Malcolm Knapton after securing finance from Lloyds Bank.
Southern & Redfern, which has a turnover of £3 million and employs 25 people, designs, makes and installs electro-mechanical power and control systems and was founded in 1922.
As a result of the MBO the firm plans to offer a 24-hour service, develop its partnerships with blue-chip clients and recruit two new apprentices.
To complete the MBO Southern & Redfern secured an invoice finance facility worth £400,000 from Lloyds Bank Commercial Finance.
Malcolm Knapton, who joined the company in 1997 and became its managing director in 2010, said: “Following the management buyout, and the funding from Lloyds Bank, we are in a better position to take advantage of our growth potential.
“Over the next year we will look to develop the service we offer to our clients as well as grow our team by hiring at least two apprentices from the Bradford area.”
As part of the MBO Southern & Redfern’s management team - John Hoather, Jonathan Douglas, Steve Mitchell and Phil Leeman - have also bought shares in the business.
Find an engineering business for sale.
Hand built in their workshop in Oxfordshire and delivered to enthusiasts and collectors all over the world, this is a fantastic and very rare opportunity to take on a truly iconic brand and develop the business to bring out the full potential that br...
RELOCATABLE
Offers a comprehensive employment process to ensure all candidates are qualified and meet the required safety and licence checks. Offers invited.
LEASEHOLD
Provides a range of specialist consultancy through planning, training and exercising, with a focus on crisis management and business resilience and continuity. Offers invited.
LEASEHOLD
|
15
|
|
Jun
|
Equity funding reaches record high for SMEs | BUSINESS NEWS
As investment rises outside of the capital, small businesses...
|
14
|
|
Jun
|
Bedding retailer fall into administration after running into troubles on the high street | ADMINISTRATION
The Yorkshire Linen company has been forced to shut its door...
|
13
|
|
Jun
|
Sipp firm with a total investment value of £130m enters administration | ADMINISTRATION
GPC Sipp Limited, a firm specialising in providing technical...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources