Yorkshire based engineering firm completes management buy out.
EKSPAN, a structural, mechanical, and civil engineering firm based in Barnsley, completes management buyout, with plans to move to new premises in Sheffield this year.
The MBO, which would not have been possible without a £750,000 equity & debt investment from UKSE, secured the company’s ongoing presence in the region, retaining jobs in the local area, with plans to bring in 9 further jobs.
The move sees the new owners Maximilian Angerer, Michael Fenton, Jordan Gerrard and Jon Spence take control of the business, alongside an experienced senior leadership team who have been integral to the business operation over the past ten years.
EKSPAN, established in 1990, is the preeminent bearing manufacturer in the United Kingdom, delivering end-to-end solutions, encompassing in-house design and precision manufacturing of mechanical bearings and temporary works. These bearings find application across a wide spectrum, including bridges, marine installations, and various architectural structures.
Steve Lyon, Area Manager at UKSE, said: “Working with the MBO team at EKSPAN has been a pleasure. The success of the business to date has been a testament to the hard work and commitment of Max and the team.
“We can’t wait to see the company grow and as ever we are delighted to have positively contributed to a business which is creating job opportunities across the region.”
Corporate advice on the deal was facilitated by Callum McLaughlin at Hart Shaw, who produced the forecasts and advice on the deal. Michael Hall at Knights Solicitors provided legal advice.