Wed, 19 Jun 2024 | BUSINESS SALE
A Mid Wales manufacturer of environmental test chambers has been acquired by staff via an employee ownership trust (EOT). Talgarth-based James Technical Services (JTS) had been in the process of closing down after owners and founders Glen and Sue James decided to retire.
The company has been operating for nearly 30 years and is one of the few remaining environmental test chamber manufacturers in the UK. JTS employs 10 people at its purpose-built factory. The firm manufactures test chambers that are used in a wide array of industries, including automotive, aerospace and pharma, to re-produce harsh environmental conditions, humidity, temperatures and vibration.
Having founded the business in 1995, the James’ planned to retire and explored a range of potential options for the business. This included a trade sale, but the pair were concerned that this risked the factory’s functions being relocated by a new owner.
As a result, they felt that closing down the business was their “only other option”, adding that this was “a last resort as it is doing really well”. They subsequently began the process of winding down the business before hearing about the option of exiting through an EOT model.
The James’ decided the EOT model “was perfect for us” and contacted co-operative development agency Cwmpas who talked them through the process and began making arrangements for the EOT sale.
Following the transfer to employee ownership, the James’ will remain with JTS in part-time roles during a transition period. David Hunter has joined the company as Managing Director and the firm has outlined plans to double turnover in the next three years.
Glen James commented: “Sue and I will remain at the business on a part-time basis during the transition period, but we are so pleased that David has hit the ground running with some ambitious growth plans, and that the rest of the team has welcomed the EOT. It is the perfect solution for us, and the future of the business.”
David Hunter added: “The fact JTS was transitioning into an employee-owned business was a big attraction for me. Having worked a lot of my life as a small cog in major automotive companies, to know that as employees we all have a vested interest in the performance of the business was a real boon.”
“I’m looking forward now to pushing JTS to be the biggest and best manufacturer of environmental test chambers in the UK, and in bringing more skilled jobs to Mid Wales too.”
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