Leading Welsh company completes MBO

Wed, 01 Aug 2018 | MBO/MBI

Swansea based HJ Bassett, one of the first UK companies to import Formica has completed a management buyout deal.

Established in 1964, HJ Bassett is a leading distributor and fabricator of decorative laminates and wallboard systems.

Philip Evans, who joined the family owned business in 2000 and became Operations Director in 2006, led the deal and was assisted with a loan from the Development Bank of Wales and by his son, Scott Evans, a qualified engineer and CAD user, working alongside him.

Philip Evans said: "We’ve grown and diversified significantly over the years but our traditional values are still very much at the heart of all we do.

"That’s what makes me so proud to now be leading the next phase of our journey. We are very fortunate to have a highly skilled and dedicated team who share our commitment to excellence. With the support of the development bank, we are well placed to build on our heritage and deliver future growth for the benefit of all."

Specialising in the fabrication of custom made toilet cubicles, vanity units, bars and counters; HJ Bassett has 21 staff and a turnover of around £2m.

Regional manager for the Development Bank of Wales, Alun Thomas added: "As a family owned business, HSBSL has continuously invested to be leaders in their field. Their customer base is testament to their hard work and quality workmanship.

"Encouraging and facilitating management buy-outs is key to nurturing entrepreneurial talent and safeguarding jobs in Wales. That’s why we are so pleased to support Phil and wish both him and Scott every success as they take over the leadership of HSBSL as a market leader."

Clients of HJ Bassett include Coastal Housing Group, City and County of Swansea Council, Atlantic College, office furniture providers and healthcare trusts.

For more news about management buyouts (MBO), click here. For all our commercial property listings, click here.


Share this article



Latest Businesses for Sale

Fishing Tackle Wholesale Business
UK Wide

Established since 1999. Large client database in place. Handover period offered if required. Offers invited.

Asking Price: £299,950
Turnover: £300,000

RELOCATABLE


Meat Wholesaler
London, UK

World wide freehold meat wholesaler for sale. Established over 40 years. Fully qualified staff. Accounts available after viewing. Offers invited.

Asking Price: £900,000
Turnover: £3,778,892

FREEHOLD


Marine Supply Wholesaler
Staffordshire, UK Wide

Established in 1980, with a nationwide client base. Tremendous scope to introduce web sales. This is a retirement sale. Offers invited.

Asking Price: £249,950
Turnover: £528,088

RELOCATABLE



View more businesses for sale

News Search

Latest News

 
17
 
Jul
 

Preston caravan manufacturer seeks buyer following administration | ADMINISTRATION

A caravan manufacturing business in Preston is on the lookou...

 
16
 
Jul
 

Farsound Aviation sold to AGIC for £115 million | BUSINESS SALE

A supply chain management company operating in the aviation ...

 
15
 
Jul
 

Specialist engineering firm forced to appoint administrators | ADMINISTRATION

Rail contracting company Aspin Group Limited has been forced...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources