Grimsby-based
Blackrow Group, one of the leading engineering firms in the north of England, which was established over 40 years ago to provide specialist fabrication services to a global blue-chip customer base, has been acquired in a management buyout (MBO). Its 300 strong workforce produce a range of products including conveyors, gantry, mezzanine floors and platforms, control and automations systems, as well as structural and pipework fabrication and installations.
The MBO sees managing director Tony Booker, together with sales director Gary Pexman, operations director Nick Rands, structural/piping director Luke O’Brien and electrical director Callum Day, join the board and become majority shareholders. Blackrow’s current directors and shareholders, finance director Neil Ellis, Chris Marfleet, Darren Broughton and Glenn Richie, will remain on the board and retain an investment in Blackrow.
ABN AMRO provided new facilities to fund the transaction. James Elliott, director at ABN AMRO, said: “Blackrow has a fantastic reputation in its markets and an impressive, loyal customer base. These factors, together with an excellent pipeline of projects over coming months and years led us to want to support the MBO and the future growth of the business.”
Mr Ellis said: “The current shareholders of Blackrow have had succession plans in place for some time and its very pleasing to have seen the MBO team take shape over the last few years and to transition into leadership roles, delivering excellent service to our customers and driving fantastic growth for the business. We believe that Blackrow is in very good hands for this next phase of its growth.”
Mr Booker added: “Neil, Chris, Darren and Glenn have led Blackrow through periods of both opportunity and challenge and the strength of the business today is testament to their determination to invest continuously in the business’ facilities, people and capabilities. The MBO team are delighted to been given the opportunity to acquire Blackrow and to continue to build and grow this market-leading, regional business.”