Thu, 24 Jan 2019 | MBO/MBI
A West Yorkshire engineering group has been taken over by the management team with funding assistance from HSBC UK.
Established in 1973, Woodcock & Wilson Group employs more than 70 people and consists of three divisions.
The firm specialises in manufacturing fans, fan pumps and also contains a servicing department.
The leadership team consists of Richard Wilson, Ian Crum, Scott Harding, Charles Halstead and Gareth Wolstencroft, who have all taken a joint majority share of the business which was previously held by the chairman, who plans to retire in the near future.
Ian Crum, managing director of Woodcock & Wilson Group, said: "HSBC UK's financial backing and guidance gave us the means and confidence to undertake this buyout.
“We're now looking to build upon recent substantial contract wins by driving forward an ambitious growth plan that will scale-up our product range and allow us to explore new markets both in the UK and overseas."
The financial support provided by HSBC will also assist Woodcock & Wilson in its growth plan, including the development of its Hazardous Area (ATEX/IECEx) products to complement its standard and special project offerings, as well as investment in lean manufacturing processes.
Anthony Wild, HSBC UK's relationship director for West and South Yorkshire, commented: "Yorkshire has a proud history of engineering and manufacturing so we're delighted to support a highly skilled business with a market leading reputation in the industry.
“The leadership team has a wealth of experience, which, coupled with their desire for growth, will only lead to exciting opportunities for the group."
It is expected that the firm will increase turnover and create new jobs through new markets and a focused strategy of efficiency gains.
For more news about management buyouts (MBO), click here. For all our business listings, click here.
Manufactures high-quality products from mild steel, stainless steel and zintec. Produces fabricated frames, shelving, brackets, formed parts, channels and stainless steel parts. Offers invited.
LEASEHOLD
Specialises in comprehensive design services within the structural and civil engineering sector and end-to-end project management for insurance-related claims. Offers invited.
LEASEHOLD
Offers a ‘back-office’ design role, providing ground improvement solutions, steel and concrete frames, earthworks and pre-cast concrete designs. Offers invited.
LEASEHOLD
|
21
|
|
Feb
|
Lakeside hotel enters administration | ADMINISTRATION
A historic but well-preserved hotel located on the banks of ...
|
19
|
|
Feb
|
Pharmaceutical manufacturer enters administration | ADMINISTRATION
A pharmaceutical manufacturing company based in Bristol has ...
|
16
|
|
Feb
|
Flybmi collapse - Ryanair, Loganair quick to take advantage and is Brexit really to blame? | ADMINISTRATION
Airlines Ryanair and Loganair are moving quickly to take ad...
Sign up to receive our acquisition alert emails to get your FREE guide
|
08
|
|
Dec
|
Geotechnical firm completes MBO | MBO/MBI
A geotechnical consulting group based in Durham has successf...
|
13
|
|
Nov
|
Intermet Refractories completes MBO deal | MBO/MBI
Intermet Refractories, a metal casting component manufacture...
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