A Blackpool drink equipment company has new owners and a new board of directors following a successful management buyout (MBO).
Farleys’ corporate team assisted Booth Dispensers in their MBO which has secured the future of the firm and its 120 staff as the previous two longstanding majority shareholders stepped down and sold their interests to the Management Team.
The new board is made up of Mark Williams and Daniel Hatton, who were existing Directors and minority shareholders of the company, alongside Technical Director Tony McKee and Operations Director Mark Richardson, who joined the Board and became new shareholders on completion.
The new team has more than 45 years’ combined experience with the firm and will continue to support the group strategy for growth. During the process of the MBO a number of potential opportunities and developments were identified which the management team are keen to explore in the near future.
Debbie King, Corporate Partner here at Farleys, led the legal team acting on behalf of the MBO team and commented, “It’s been a privilege to help Mark, Daniel, Tony and Mark achieve their goal of taking ownership of a group with a clear plan for further business growth, and we wish them every success for the future.”
Management buyouts provide an exciting and potentially lucrative opportunity for the growth of a company but they are complex and require the support of an experienced legal team. If you are considering a management buyout, speak to Farleys’ corporate team on 0845 287 0939 or email us.
Press links: Blackpool Gazette
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