Manufacturer Senior Architectural Systems has announced a management buy-out from the company’s current board of directors.
Thought to be the UK’s largest privately owned aluminium fenestration systems manufacturer, the firm will now be owned by the board, led by managing director Mark Wadsworth.
Mr Wadsworth, along withsales director James Keeling-Heane, technical director Mark Wheatley and financial director Les Buxton, will now own the firm while Senior’s founder Lennart Jonsson, who helped establish the company back in 1991, will continue as a shareholder and director.
The firm, based in Denby in South Yorkshire, turned over £30.9m in its last set of accounts and employs 160 people nationally.
Senior has invested heavily in the development of its product range and has also recently made inroads into the domestic residential sector, increasing its market share with the launch of a new range of high performance aluminium patio doors and slim line windows.
Mr Jonsson said: “This is a very exciting time for Senior and I am extremely proud of everything that has been achieved over the last 27 years. The move has been a natural and seamless progression for us. Our goal, as always, is to give our customers what they want, when they want it and the new management structure will enable Senior to continue to do just that.”
Mr Wadsworth added: “Looking ahead, we will continue to invest to ensure that we not only have the products but also the service that our customers in both the domestic and commercial sector expect.”
The MBO was funded by Tosca Debt Capital (TDC).