Mon, 07 Nov 2016 | MBO/MBI
A Bradford-based manufacturer of control panel systems, which counts Siemens and Unilever among its partner base, has been acquired in a management buyout (MBO).
Southern & Redfern Industrial Solutions Ltd was bought by its managing director Malcolm Knapton after securing finance from Lloyds Bank.
Southern & Redfern, which has a turnover of £3 million and employs 25 people, designs, makes and installs electro-mechanical power and control systems and was founded in 1922.
As a result of the MBO the firm plans to offer a 24-hour service, develop its partnerships with blue-chip clients and recruit two new apprentices.
To complete the MBO Southern & Redfern secured an invoice finance facility worth £400,000 from Lloyds Bank Commercial Finance.
Malcolm Knapton, who joined the company in 1997 and became its managing director in 2010, said: “Following the management buyout, and the funding from Lloyds Bank, we are in a better position to take advantage of our growth potential.
“Over the next year we will look to develop the service we offer to our clients as well as grow our team by hiring at least two apprentices from the Bradford area.”
As part of the MBO Southern & Redfern’s management team - John Hoather, Jonathan Douglas, Steve Mitchell and Phil Leeman - have also bought shares in the business.
Find an engineering business for sale.
Bring to the market this leasehold specialist car sales and servicing facility located in Horncastle, Lincolnshire. The trade was established as a limited company in 2005.
LEASEHOLD
The company is an online vehicle purchasing platform, providing a fast, hassle-free car-selling service for the end user. A competitor to the likes of webuyanycar.com and Motorway, the company is a well-established online vehicle purchasing platform...
Bringing to the market this denim and casual wear retailer, boating a user friendly comprehensive online presence.
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.