Sat, 08 Dec 2018 | MBO/MBI
A geotechnical consulting group based in Durham has successfully completed a management buyout by two of its senior leadership team members, financially supported by HSBC UK.
Arc Environmental, considered to be one of the largest of its kind in the North East of England, has been taken over by Darren McGrath and John Ditchburn – two of the company’s associate directors who have been with the business since 2005.
The environmental consultancy operates across the country providing its customers with a range of services, including site investigation and land remediation and validation.
Ditchburn said: “We have a strong, loyal team at Arc and this deal means the business continues to be owned by people who have been with it from the outset. The team has a wide range of specialist skills and expertise, working in partnership with clients including major engineering groups, contractors and government departments.
"The future is very positive, and our increased workload has led to the creation of a number of positions within the business, offering opportunities for experienced engineers to join the company at a very exciting time."
The MBO was advised by Clive Owen and Endeavour Partnership, whilst investment came from HSBC UK.
Corporate finance partner at Clive Owen, Angus Allan, further commented: “We are proud to have supported Darren and John on this transaction, advising on all financial aspects that have led to the successful conclusion of the MBO. The entrepreneurial endeavours of John and Darren will undoubtedly take Arc from strength to strength."
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