Wed, 16 Nov 2016 | MBO/MBI
A Leicestershire supplier of fire protection products has been acquired in a management buyout (MBO).
Pyrotect, which is based in Ashby-de-la-Zouch and employs 115 people, provides fire stopping and fire protection services as well as health and safety consultation. Its clients include the construction firm BAM.
According to Insider Media its owner, David Harris, has stepped into a non-executive role after selling his majority share in the business to managing director Chris Goodison and other shareholders Russell Morgan and Melanie Young.
Chris Goodison said: "This restructuring allowed David to take a step back, as he had planned for a while now, and will enable the fully incentivised team of owner managers to drive the business forward.
"We will, of course, continue to value David’s input from a more strategic perspective. We believe that we have a market leading proposition and see a fantastic opportunity to continue the development of the business in a UK market that is only now fully recognising the need to deploy specialist providers in this safety critical area."
Tony Dunn from Elysium Corporate Finance, who advised on the MBO, said: "The business has experienced strong growth and this has facilitated a transaction that works for every party involved. I can only see the business going from strength to strength."
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