Management acquires majority stake in Leger Shearings Group with support from NatWest

The additional shareholding was acquired from Ian and Kathleen Henry who will continue to hold a minority shareholding and Ian Henry will serve as non-executive chairman of LSG.

Rotherham-based LSG, which has more than 200 employees, provided tours to more than 100,000 customers in 2023.

A spokesman said: “Since the initial MBO in 2019, which saw management obtain a 30% stake in the business, the company has more than doubled in size, with Leger Holidays’ acquisition of the assets of former competitor Shearings in 2020 credited with aiding the growth.

"The acquisition led to the formation of Leger Shearings Group. Turnover in 2023 was £83m.”

CEO Liam Race said: “This is a very exciting time for Leger Shearings Group. The business has delivered consistent profit growth since the pandemic recovery and we are expecting to exceed last year’s record breaking profit year with another record year for 2024.

Ian Henry, non-executive chairman of Leger Shearings Group, said: “Liam, Andy and Chris have a great vision for the future of the business, and I wish them every success as they move forward.”

Andy Croasdell, Relationship Director NatWest, said: “LSG are moving forward with exciting plans that should enable the business to achieve future profitable growth.”

Andrew Gore, Director Credit Delivery at NatWest, added: “We are delighted to support this next phase.”

The deal was brokered by Whitehart Associates and KPMG for the business. Squire Patton Boggs (Tom Telford and Elysia Watts) provided legal advice to NatWest.