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.
The 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.
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