Tue, 09 Nov 2010 | MBO/MBI
Asbestos removal firm Insul-eight has been bought in a management buy-out deal for an undisclosed amount.
The Lancashire-based business, which also specialises in thermal insulation, was purchased by Darren Hartley and Danny Heap from Rufus Dunne, an investor in Insul-eight since 2004.
The Royal Bank of Scotland supported the deal for the £3 million turnover business. Lawyers at Napthens and corporate finance experts at Moore and Smalley were also involved in advising on the deal.
Darren Hartley commented: “We are incredibly thankful for the support and encouragement that Rufus has shown us over the years, and we’re now looking forward to ensuring we continue to drive the business forward.”
Established in 2004, the firm’s customers are predominantly regional and national mechanical and electrical engineering service providers. It also designs, supplies and installs electric trace heating, as well as controls for frost protection.
Stephen Gregson of Moore and Smalley said: “Insul-eight is a very successful niche business with highly trained employees providing a specialised service.”
Gregson continued to say that the firm has expanded quickly since its beginnings, and that the MBO deal will simultaneously enable Dunne to exit the business and Hartley and Heap to focus on its future developments.
Established in 1998 as First Trace Heating Direct (Holdings) Limited, the company became known as Insul-eight in 2004.
Represents an opportunity for an acquirer seeking a three surgery, predominantly private dentistry located in Pembrokeshire.
FREEHOLD
Predominately NHS dental surgery with scope for physical expansion, private growth and extended services.
FREEHOLD
Represents an opportunity for a dental practice acquirer seeking a seven surgery mixed dentistry operating since 1978.
FREEHOLD
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.