Gosport-based
Elecon UK Ltd, which designs, develops and manufactures fine limit sheet metal and specialises in light fabrication, has undergone a management buy-out advised by
Moore Barlow.
Founded more than 30 years ago, the ISO:9001-certified company works with stainless steel, aluminium and mild steel, using ‘state of the art’ laser, punching, folding and coating technology to maintain the highest quality from design through to production. It supports a broad range of clients across the security, automotive and retail sectors, carrying out fibre laser cutting, punching, folding, welding, powder coating and assembly all on one site.
This deal will enable Elecon’s existing shareholders — Stephen Stratton, Wayne Dyke and Janine Atkinson — to implement a succession plan and transition out of the business over the next few years, while enabling the new management team of Simon Searle, Stephen Synnott and Nigel Harper to take ownership and pursue growth through a focused sales and new product strategy.
It also establishes a solid foundation for the future of the business and ensures the management team is well placed to continue to provide Elecon’s clients with the high-quality service the business is renowned for.
The deal was led by David Bright, partner in corporate team at Moore Barlow and supported by corporate solicitor Isabelle Balch and employment solicitor Chelsea Feeney. Mr Bright said: “It has been a pleasure to support Stephen and his team on their succession plan, enabling them to transfer ownership of the company to a strong team that will really drive the future growth and development of the business. We are excited to see what is next in store for Elecon.”
Mr Stratton, one of the founders of Elecon, said: “This was a great opportunity for not only the company but the new management team at Elecon, and I have no doubt the business will continue to go from strength to strength under their ownership. I would also like to thank Moore Barlow for its hard work and continued support throughout this transaction, which meant it was completed in a timely and smooth manner. I would not hesitate to recommend the company.”