New chapter for Sheffield-based Airflow World Group which includes Formula 1 teams on client list
Two employees from Sheffield-based Airflow World Group Limited, who have worked for the industrial oven manufacturer for a total of 35 years, have completed a management buyout.
Samantha Hancock-Ridge and Gary Clark have bought the company from Nigel and Elaine Sharp for an undisclosed sum. Airflow, which employs a team of 28 staff, has been trading from its 30,000 square foot manufacturing unit on Underhill Lane in Sheffield since 1985.
Advertisement
Hide AdAdvertisement
Hide AdThe company designs, manufactures and installs bespoke industrial ovens, laboratory ovens, spray booths and controlled environment enclosures for the aerospace, pharmaceutical, composites, electronics, oil exploration and product finishing industries. Clients include Formula 1 teams and several blue-chip companies.
Mr Clark said: “I started my career with Airflow as a sheet metal worker straight from school, 28 years ago. I worked my way up to become the operations director and have a huge pride in the business and everything it has achieved to date. Samantha has worked with our team for seven years, running the finance department. Dave Hyde will continue in his role as managing director.
“We provide a complete package that includes specification, design, manufacturing, installation and commissioning, and because we continually invest in the latest technology and have such knowledgeable and experienced teams, we have become the go-to supplier for many businesses throughout the UK and abroad."
Ms Hancock-Ridge and Mr Clark were advised by Hentons Corporate Finance, with Samantha Sellars and Matt Milnes providing combined legal and corporate finance services throughout the MBO process. The vendors were advised by Taylor and Emmet Solicitors.
Advertisement
Hide AdAdvertisement
Hide AdSupport The Yorkshire Post and become a subscriber today.Your subscription will help us to continue to bring quality news to the people of Yorkshire. In return, you'll see fewer ads on site, get free access to our app and receive exclusive members-only offers.
So, please - if you can - pay for our work. Just £5 per month is the starting point. If you think that which we are trying to achieve is worth more, you can pay us what you think we are worth. By doing so, you will be investing in something that is becoming increasingly rare. Independent journalism that cares less about right and left and more about right and wrong. Journalism you can trust.
Thank you
James Mitchinson