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

Specialist Bottlers of High-Value Spirits
Scotland, UK

Specialist bottling company with a niche in short-run bottling of high-value Scotch Whisky, fine rums, brandy & gin. Provides a turnkey service including storage, re-racking, finishing & reworking of bottled goods. Strong & growing customer base havi...

Asking Price: Offers Invited
Turnover: £1,129,000

Manufacture & Supply of a Range of Matcha Drinks
UK Wide

The company creates nutrient-rich matcha drinks, designed to sharpen the mind, promote brain productivity and encourage improved mental health. Products include matcha sachets, organic matcha powder and ready-to-drink cartons. Offers invited.

Asking Price: Offers Invited
Turnover: £970,000

RELOCATABLE


Refrigerated Transport Logistics Company
East Midlands, UK

Specialises in the delivery of refrigerated goods to clients throughout the UK. Prides itself on providing a professional, flexible and cost-efficient service, ensuring it meets its clients’ requirements throughout the process, from collection to del...

Asking Price: Offers Invited
Turnover: £1,425,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
07
 
Apr
 

Treasury plan to save medium-sized businesses by taking emergency stakes | BUSINESS NEWS

The Treasury is understood to be considering user taxpayer m...

 
07
 
Apr
 

Clarks makes store closures and explores financing opportunities | COMMERCIAL PROPERTY

Footwear retailer Clarks has confirmed that it will close a ...

 
06
 
Apr
 

Cath Kidston set to enter administration | ADMINISTRATION

Clothing, accessories and homeware retailer Cath Kidston has...

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