Wed, 03 Jul 2013 | MBO/MBI
A management buy-out of Rubber Safety Hygiene has been completed, leaving the managing director, Rob Hand, as the firm's sole owner.
The MBO of the industrial supplies company was completed with financial backing from HSBC's South Yorkshire Commercial Centre in order to facilitate the £400,000 funding deal. The centre also provided additional working capital facilities to support the company's growth.
Before the MBO, Mr Hand held a nine per cent stake in the company. He is now the sole shareholder following the departure of the two other shareholders.
Rubber Safety Hygiene supplies companies with daily consumables, such as safety equipment, janitorial supplies, rubber sheeting and industrial hoses. The firm was founded in 1990 and employs 25 people. Since taking on the business Mr Hand has appointed two new members of the management team and doubled the field sales force to four in order to help drive expansion.
The new owner commented: “As far as our customers are concerned, it is business as usual and they will continue to receive the same high quality service. The business has weathered the economic downturn successfully and we are now in a position for growth again.
“We particularly want to focus on the South Yorkshire area; we have been busy growing our national business but I have brought in a field sales team to drive sales more locally.”
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