Fri, 17 Jan 2025 | MBO/MBI
Family-run engineering, fabrication and machining business Afon Engineering has passed into new ownership following a management buy-in.
Swansea-based Afon, was founded in 1979 by Anthony Beaujean who ran the business before handing over to his sons Carl and Andrew.
Its engineering capabilities cover design and detailing, rolling, forming and pressing, machining, profile cutting, fabrication and welding, protective treatment and installation controlled through its Q/A management system accreditation. It employs over 50 people.
Following a £2.5 million mixed loan and equity investment from the Development Bank of Wales, via the Wales Management Succession Fund and the Wales Flexible Investment Fund, an incoming management team will take on the running of Afon Engineering.
The new team includes new Managing Director Jason Thomas, formerly of Llanelli-based Teddington Engineered Solutions, and Julian Vance-Daniel, founder of Bridgend-based Vessco Engineering.
Thomas said the team was proud to be the new custodians of Afon.
“This marks a momentous and proud occasion for us and we have clear intentions to let the world know about Afon across many industry sectors. Together, we will usher Afon into a new era, one that is marked by ambition and professionalism,” he said. “We believe there are exceptional people working at Afon who show commitment and dedication, which has been inspiring to see and provides a great foundation for us to build on.”
The deal was completed by Scott Hughes, Senior Investment Executive with the Development Bank of Wales, with support from Clare Sullivan, Regional Manager for New Investments.
Hughes said: “Our investment will enable the family to step away from a successful business they have worked hard to build. The new management team is skilled, with a strong track record, and is well-positioned to support the business in achieving its planned future growth.”
The deal was supported by Geldards, acting for Development Bank, alongside JCP, Azets and Harvey Business Support, acting for Afon.
Find out more about the difference between acquiring a startup and longstanding firm
Reputable electrical services company serving a thriving commercial customer base across London and Southeast England. The company benefits from loyal and consistent customers who value the company for its expertise in electrical testing, maintenance...
Exciting opportunity to take over a long-standing business with growth potential through marketing efforts.
The company is a multi-disciplined engineering services, products, and consumables provider, offering tailor-made, complete solutions for manufacturing firms across a range of sectors.
18
|
Feb
|
Investment firm Birch Faraday buys care provider Highbury | BUSINESS SALE
Highbury Support Services, a North Wales care provider, has ...
18
|
Feb
|
Aberdeen caterer snapped up by US food giant | BUSINESS SALE
Aberdeen catering firm Entier, set up by former chef Peter F...
18
|
Feb
|
Creative agency RBH chooses employee ownership | BUSINESS SALE
West Midlands creative agency Rees Bradley Hepburn (RBH) has...
06
|
Feb
|
Agency CORE moves to employee ownership | BUSINESS SALE
Cardiff-based web and brand agency CORE has transitioned to ...
07
|
Jan
|
Azets Wealth Management continues expansion drive with Laurus purchase | BUSINESS SALE
Newcastle-based chartered financial planning firm Laurus Ass...
23
|
Dec
|
Westward turns up heat with management buy-out | MBO/MBI
Wales-based heating and electrical services company Westward...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.