Fri, 01 Nov 2024 | MBO/MBI
Light steel specialist firm Frameclad has undergone a management buyout. Under the deal joint managing directors Nicholas Teagle and Martin Jamieson have acquired the group from founder Mark Munns and his wife Diane.
Frameclad, which Munns founded in 2009, provides a range of fully designed and engineered steel frame solutions for the construction industry, via two manufacturing facilities in the West Midlands spanning more than 50,000 sq.ft.
During the last two years, the business has also commissioned a dedicated 24,000 sq.ft. framing facility specifically for the off-site market.
It also provides consultancy services for both clients, which include major retailers such as Waitrose and Iceland and contractors.
The acquisition marks the culmination of a two-year transition process, which began in 2022 with Munns announcing his intention to eventually step back from his day-to-day role, and Teagle and Jamieson being appointed joint managing directors.
"We are excited to share the news that this transition is now complete, and we have officially acquired Frameclad," said Teagle. "We have many plans to build on the success Mark and Diane achieved, and we will continue with our long term strategy of ‘investment and innovation' which is yielding positive results.”
He added that there will be no major changes made to Frameclad’s management team following the move, its manufacturing output or operational procedures.
“Delivering high quality light steel frame systems, backed by excellent customer service, will remain our priority,” he said.
Jamieson added: "We look forward to growing our relationship with all our clients, partners and suppliers as we continue to deliver cost effective light steel solutions that are designed and manufactured to outstanding building safety standards."
In line with Frameclad’s strategy, on the back of launching the company’s Lightweight Engineered Adjustable Frame (LEAF), new owners Teagle and Jamieson have purchased a further five cold-roll forming machines and increased the design and engineering team from 12 to 14.
The exact value of the MBO deal has not been disclosed.
Find out why MBOs are becoming an increasingly popular option for owners looking to exit
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