The corporate and commercial team at Farleys Solicitors LLP has overseen the successful management buyout of Danley Engineering Services Ltd. The existing Management team, comprising of Engineering Director Andrew Cartmell; Technical Sales Manager Ian Threlfall and Production Manager Scott Wolstenholme, completed the buyout with effect of 1st of October.
Established in 1980, Danley Engineering Services Ltd is recognised as one of the world’s leading tufting machinery manufacturers, now exporting 70% of its products all over the world. The company will continue to move forward with plans to maintain its core strategies of quality, reliability and value for money following management buyout.
Graham Wolstenholme, one of the founders of Danley Engineering Services Ltd, is stepping down as Managing Director and has sold the majority of his shares to the MBO team, who have a combined 80 years experience within the Tufting Industry. Graham will remain on as a Director and minority shareholder to ensure a seamless transition in the coming months.
Farleys’ Corporate Partner Debbie King managed the negotiation of the deal, advising Graham Wolstenholme on the sale of the business.
Representing the Management Team, Ian Liddle managed the purchase of the business, establishing the management team as majority shareholders.
The MBO team stated: “From October 1st 2014 it will be business as usual and Danley looks forward to the continued support from our suppliers and their excellent service, as we will continue our commitment to our loyal customers with the support and service they have experienced in the past”.
Accountancy and tax advice was provided by Graham Wilson at Beevers & Struthers. Both firms wish the management team every success for the future.
For more information on Danley Engineering Services Ltd visit http://www.danleyeng.co.uk/
Find out more about our Corporate Law Pages.
Contact Us TodayWe're here to help.
Call us on 0845 050 1958