A COMBUSTION and heat transfer specialist in Harrogate has been bought out by its management team for an undisclosed sum.
Process Combustion, which celebrates its 30th anniversary this year, designs and manufactures products and provides support services in connection with combustion and heat transfer technology.
The management team which now owns the business – managing director Dan Beishon and directors Julian Smith and Dave Stewart – have more than 40 years’ experience at the company.
Mr Beishon, who led the management team, said: “This management buyout is something we have been working towards for some time so it is terrific to have successfully concluded the deal.
“It is a great way to mark the 30th anniversary of Process Combustion and we feel the company has a really bright future ahead of it under the new ownership.
“We are looking forward to continuing Process Combustion’s proud track record of supplying high quality equipment to a range of different industries and to driving the company on towards further success.”
Products made at the Harrogate factory include LNG vaporisers, thermal oxidisers, process heaters and firefighting training systems that are supplied to customers around the world, in private and governmental sectors.
Process Combustion’s key markets include oil and gas, petrochemical, chemical, nuclear facilities, pharmaceutical, food processing, printing and glass manufacturing.
Lawyers from the Leeds office of law firm Ward Hadaway together with the corporate finance and tax team at accountants Brown Butler advised on the acquisition of the company from international group Roberts Gordon.
James Nightingale, associate at Ward Hadaway, said: “Dan, Julian and Dave have put an awful lot of work into the company so it was important for us to ensure that the acquisition of the business proceeded smoothly.”