Fri, 22 Sep 2017 | MBO/MBI
A Cardiff-headquartered modular building specialist has been acquired by one of its senior team as part of a management buyout (MBO).
Clarks Modular Buildings, founded in 1951, began by supplying "jackleg" cabins to the construction industry, but in the late '90s moved into the construction, hire and sales of modular buildings. Customers include several major utility companies and construction businesses.
Since the deal, the company has transferred ownership to brother and sister partnership Elissa Thomas and Ellis John. Thomas was involved in the operation of the business for several years while her brother has worked for a large PLC company in the construction industry.
Former managing director Ian Clark will retain a 20 per cent shareholding and remain on the board, working closely with the new owners to support the business in its growth plans going forward.
"We have great plans to continue, grow and develop the business going forward and I am confident that my knowledge and contacts in the construction sector will open new doors for the company," said Ellis John.
Accountancy firm Broomfield and Alexander advised the deal. Representative Seamus Gates said: "This is already a substantial business in the capital but also one with potential to grow and develop into the future."
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