Mon, 30 Sep 2024 | MBO/MBI
Andy Thornton Worldwide Interiors Limited (ATWIL), a West Yorkshire-based specialist interiors business, has undergone a management buyout (MBO). Law firm Blacks Solicitors supported the transaction for the Brighouse-based company, which turned over more than £3 million in its last financial year.
ATWIL, a commercial interiors business, has recently seen a period of sustained growth across the UK and Scandinavia. The MBO comes in the wake of this growth and fulfils a long-held pledge of rewarding staff loyalty with company ownership.
The self-funded management buyout involves the share sale of 75 per cent of the company by director Andy Taylor to the ATWIL management team, comprised of Kayty King, Pete Hall and Richard Woods.
The newly-appointed management team were advised by Wakefield-based Parsons Accountants. Following the MBO, the management team are focused on continuing the business’ growth and success.
Andy Taylor, director at Andy Thornton Worldwide Interiors Ltd, commented: "I am delighted and proud to have three 'proper' and deserving new partners and look forward to a very exciting next stage of our journey together.”
"My thanks also go to Alex Hall and all at Blacks again for this, my third deal involving them, for presiding over proceedings with aplomb and making the whole process comfortable and an enjoyable experience."
Alex Hall, senior associate legal executive in the corporate law team at Blacks Solicitors, said: "It has been a pleasure to assist Andy in putting his succession plan in place for Andy Thornton Worldwide Interiors Ltd. I wish Andy and the management buy out team all the best, and look forward to seeing the business continue to grow and flourish."
MBOs are an increasingly popular option for owners seeking a smoother, faster exit that enables them to pass their company on to a trusted team and ensure that its brand, ethos and workforce are secured post-sale
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