Customised Sheet Metal announce successful Management Buyout
Home / Customised Sheet Metal announce successful Management Buyout
The management team at Customised Sheet Metal have completed the successful management buyout from founders, Malcolm Pearce and Jonathan Templar.
This involves a change of ownership at CSM which both Malcolm and Jonathan felt to be positive for the future prosperity, sustainability and success for all involved employees, customers and suppliers.
Chairman Alan Jones who led the Management buyout said:
“We are delighted to have completed the MBO.
“Malcolm and Jonathan wanted to have a succession plan to hand over the baton to ensure that the legacy that they had created was carried forward and we have achieved exactly that with a very strong management team of Managing Director Keith David, Technical Director Owain Wilcox, Site Director Jeremy Donovan, Operations Director Trina Massie and Production Director Derryl Watkins.
“The management team and previous owners worked in harmony and unison to achieve a great outcome for everyone, advised by Berry Smith Lawyers and Clay Shaw Thomas accountants and ably assisted by our Advisers Katherine Broadhurst at Azets Accountants and Business Advisory and Siôn Tudur at Loosemores Solicitors.”
Malcolm Pearce said: “We aren’t getting any younger or fitter and we wanted to have a succession plan to carry forward what we have created. We are going to carry on working at CSM in our new roles and supporting the new management team that has a vast experience and knowledge of the company and the industry.
“With the new management team the design making is reinforced with vast experience and knowledge of our trade, I am still ambitious to be a part of a world class organisation and the inspiration I have gained from the working environment with all of our team has been very satisfying.”
On behalf of the new management team, Managing Director, Keith David said:
“We are all incredibly grateful and excited about continuing the great work that Malcolm and Jonathan have done to establish the company as an industry leader. We are relishing the opportunity to use the combined strength of the new ownership team and the extremely talented engineers, technicians and office support we have, to continue to expand our array of solutions to our growing customer base.”
Loosemores Solicitors Corporate and Commercial Partner, Siôn Tudur, said: “We are very pleased to have assisted Customised Sheet Metal on this landmark deal. We were impressed with the team at CSM from the start, it is easy to see why they are so respected in the metalwork industry.”
Azets Partner, Katherine Broadhurst said: “It was a pleasure to support the management team with this transaction, working with them across all aspects of the transaction with specialist colleagues to provide a tailored approach including early planning, projections and funding, undertaking due diligence and providing personal taxation advice.
“Malcolm and Jonathan have built a strong business with exciting opportunities and this transaction will enable the management team to continue that success into the future.”