Thu, 25 Oct 2018 | MBO/MBI
Senior Architectural Systems, a window and door manufacturer based in South Yorkshire, has successfully completed a management buyout (MBO).
Located in Denaby, South Yorkshire, the business also has a number of operations in Scotland and Wales, with more than 160 staff members to its name with accounts detailing a turnover of £30.9 million in the year ending June 2017.
Managing director Mark Wadsworth led the MBO, alongside sales director James Keeling-Heane, technical director Wheatley, and financial director Les Buxton, who are all part of the company’s board.
Wadsworth said: "Operationally it is business as usual and with the recent addition of our new financial director, the board is stronger than ever. Looking ahead, we will continue to invest to ensure that we not only have the products but also the service that our customers in both the domestic and commercial sector expect."
The company was established by founder Lennart Jonsson back in 1991, who will continue to act as a shareholder and director. The deal was financed by Tosca Debt Capital (TDC), which aims to further invest into businesses in the North.
Gary Davison, a partner at TDC commented: "Senior Architectural Systems has an excellent track record and a strong management team who have commanded an enviable position in their marketplace."
The MBO at Senior Architectural Systems was supported by professionals across the board; legal advice was provided by a team at Keebles LLP, with staff from KPMG stepping in to provide multi-disciplinary advice.
Partner Matt Ainsworth at Keebles said: “Senior has been a long-standing client of the firm and we are delighted to have been involved in this transformational deal. We look forward to seeing Mark and the management team realise the growth potential in the business over the coming years."
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