Another business in Bridgend-based furniture group Christie Tyler has been acquired in a
management buyout. Christie Tyler was put into administration earlier this summer, in a move blamed on tough competition in the UK marketplace from low- cost-produced imported furniture.
In summary, the
management buyout market will continue to recover as there is a rich vein of entrepreneurial management teams keen to develop and evolve their businesses.
Mr Khan believes that this was an extremely creditable performance under the circumstances of the
management buyout, the disposal of the Durham operation and trading conditions that are generally accepted through the trade as probably the toughest in recent memory.
Broomfield and Alexander's director of corporate finance, Seamus Gates, said, 'We were delighted to be closely involved with this sizeable
management buyout.
The
management buyout team was headed by Nitesh Sakhrani, who has been chief executive for ten years.
Mr Smith declined to comment on the value of the
management buyout but said it would help the business to achieve "ambitious growth targets," which include plans to expand throughout Scotland.
Politicians said they were disappointed the deal collapsed but expressed hope that a
management buyout would save the 300-year-old mill.
They said: "After many years devoted to the company, it's a fantastic opportunity to be able to successfully complete this
management buyout.
What I needed, like anyone considering a
management buyout, was close support, trusted advice and an investor that shared our vision.
Shortly after completing the
management buyout, Mann Lake acquired Kelley Beekeeping, based in Clarkson, Kentucky, from Frandsen Corp.
AN education company which provides vocational learning programmes has undergone a
management buyout.
