Whitstable-based Woodfield Systems, which designs and manufactures marine loading arms for the transfer of crude oil, has been acquired by four members of its senior management team (
www.woodfieldsystems.com).
Founded in 1932, the company was bought by the MacGregor group (part of Finnish group Cargotec) in 2014. It employs more than 60 people.
The firm has been acquired by David Williams, Christina Collins, Gary Reddecliffe and Glen Doherty; MacGregor will retain a minority shareholding.
The MBO comes three years after MacGregor bought Aker Solutions’ mooring and loading systems division, which included Woodfield Systems.
Sales director David Williams said: “The MBO allows us to fully focus on our core business, supporting our customers with a range of products and services for the onshore marine loading and fluid transfer of crude oil, refined products, chemicals, LPG and LNG.”
The MBO team was supported by Scott Miles, advisory and assurance partner at Kreston Reeves. He said: “The new management board deserve every success ahead of them.”