Thu, 28 Nov 2024 | MBO/MBI
A four decades strong powertrain specialist has undergone a management buy-out.
Huddersfield-based Lancereal which was launched 37 years ago said the changes – which include the founder handing control over to his daughter - marked a new chapter in its long history.
Laura Hampson and Rob Yorke, who have been part of the business for many years, are taking on new leadership roles as Managing Directors. Hampson will focus on Sales & Business Development, while Yorke will oversee Engineering & Operations.
The company, which provides products such as gearboxes and electric drives, said that the MBO aims to build on the strong foundations laid by founder Nick Hampson, - Laura’s father - who has been at the helm of the company since its establishment in 1988.
In addition to the leadership transition, the group said it had made strides to modernise its brand and operations as the sector moves towards electrification.
It has recently launched a new company website as part of an ‘upscaled marketing drive’ to enhance visibility and better communicate its offering to current and potential customers.
“The rebrand aims to reflect our long-term vision and goal to become a global leader in integrated drive transmission solutions,” it said. “We have also expanded our team, bringing on new hires across various departments to bolster our expertise and customer support capabilities as part of a broader strategy to stay competitive and adapt to the evolving demands of the industry.”
Laura said: “Rob and I have been deeply involved in the commercial and operational direction of the business for several years. The MBO will provide continuity and stability, ensuring our customers and suppliers continue to experience the same level of service, integrity, and support that Lancereal has provided for decades."
Yorke who has worked at the company for over ten years, said: “The MBO is not just about ownership change but about maintaining the passion and ethos that have been the backbone of Lancereal since the beginning. We are committed to upholding the customer-first approach and ensuring strong, trusted partnerships as we move forward.”
Find out more about the growing popularity of management buy-outs
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