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.
Renowned interior design and furnishings business, typically operating along the South Coast, includes home counties, and up to the M4 corridor. Typically working with the smaller developers in respect of new build developments, with recommendations...
Established in 1996, this business started as a hair salon and in 2000 had expanded into the premises next door and the flat above.
With an impressive 70 year track record of industry experience, the company caters to both trade customers and the general public. Holding essential licenses, including a Waste Disposal Licence, a Scrap Metal Dealers Licence, and classification as a...
26
|
Apr
|
Major double glazing firm Everest enters administration | ADMINISTRATION
Everest, one of the largest providers of double-glazing in t...
26
|
Apr
|
Kent-based scientific consultancy sold to US firm | BUSINESS SALE
A4P Consulting Limited, a scientific consultancy company hea...
25
|
Apr
|
Ambulance services provider acquired in pre-pack deal | BUSINESS SALE
Elite Emergency Medical Services Ltd (Elite EMS), an ambulan...
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
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.