Tue, 25 Sep 2018 | MBO/MBI
A recruitment business headquartered in Pontypool, South Wales has successfully completed a management buyout (MBO) backed by HSBC and the Development Bank of Wales.
ALS Managed Services – a firm established in 2014 with a specialisation in the recycling and warehousing industries – has experienced impressive turnovers of more than £26 million and has been taken over by chief executive Steve Lanigan.
The banks provided a combined funding package of more than £1 million which allowed the major shareholders to exit the business smoothly. Their departure has enabled the development bank to take a 20 per cent equity stake in the new firm.
The business manages on average 1,100 temporary workers per week and is considered one of the fastest growing companies in the industry.
Lanigan said: “We are very lucky to have such a talented team driving our growth in the UK recruitment market.
“I am personally very grateful for their hard work and commitment over the last four year, and their evolution into the future leaders of our business.”
The funding package from the development bank through the Wales Management Succession Fund has allowed ALS to move into a new 3,500 sq ft office unit in Caerphilly. It is hoped that the larger working area will enable the business to increase its client services and to increase the number of its added value initiatives.
Stephen Galvin, a senior investment executive at the Development Bank of Wales, said: “Planned succession is the route to a successful exit. Having worked with us over the last 18 months, the team at ALS really have delivered a textbook example of a planned MBO transaction.”
For more news about management buyouts (MBO), click here. For all our business listings, click here.
Ideally located for international freight and operates in an underserved postcode area. It is expected that the business will be attractive to alternative pallet networks and national haulage groups. It is anticipated that the business will be a soug...
LEASEHOLD
The company provides a range of domestic and commercial underfloor heating solutions, tailored to the clients’ needs. Caters to a range of clients in the south of England with a current active client base of over 30 clients, all of whom provide relia...
RELOCATABLE
YE21 turnover of £725k. Services include business removals, IT relocation, business storage and surplus office furniture resale and recycling.
|
27
|
|
Sep
|
52.7k sq ft warehouse in Bangor up for sale in £2.86m auction | COMMERCIAL PROPERTY
A 52,797 sq ft warehouse with four industrial units in Bango...
|
27
|
|
Sep
|
Fashion brand Seasalt explores sale after strong year | BUSINESS SALE
Cornish fashion brand Seasalt is exploring the possibility o...
|
24
|
|
Sep
|
Kingswood reveals extensive pipeline of potential UK acquisitions | BUSINESS NEWS
Wealth and investment management group Kingswood has reveale...
Sign up to receive our acquisition alert emails to get your FREE guide
|
11
|
|
Sep
|
McLaren plots sale and leaseback of iconic Surrey HQ | COMMERCIAL PROPERTY
Supercar and F1 racing group McLaren has engaged property ag...
|
15
|
|
May
|
Logistics recruiters and distributors snaps up Birmingham-based counterpart | BUSINESS SALE
Challenge TRG Group, headquartered in Wigan, has successfull...
|
14
|
|
May
|
Specialist insurance company in South Wales completes MBO | MBO/MBI
A specialist insurance broker located in South Wales has suc...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources