It was recently announced that Bondholder Rodgers Leask Directors Lawrence Pacey, Paul Spencer, Kully Toor, Stewart Friel and Kriston Harvey have completed a Management Buy Out (MBO) of the company.
The MBO had been invited by Andy Leask, who co-founded the company in 1989 with John Rodgers, and was keen to facilitate succession by his longstanding colleagues. Under the new ownership, Andy will continue to work with the directors and staff and will also represent the company in an ambassadorial role.
Each member of the MBO team has worked in the company for around 20 years. Paul Spencer, the company’s new Managing Director, will ensure that clients and staff experience a seamless transition of ownership, and very much ‘business as usual’.
The business has enjoyed a period of consolidation and stability since moving to its larger premises in Derby City Centre and Longbridge. The business plan developed for the MBO will be managed by Lawrence Pacey, the company’s new Business Development Director who is keen to strengthen relationships with existing clients and develop new ones in order to achieve controlled growth.
Kully Toor, Kriston Harvey and Stewart Friel will continue to provide direction and leadership to the company’s core disciplines of Structural Engineering, Civil Engineering/Transport Planning, and Geo-environmental Engineering respectively.
Paul Spencer, Managing Director said: Paul said: “We are thrilled to have completed the MBO with Andy's co-operation, and while we can be proud of our achievements so far under his tenure we are equally excited about our plans for the future.
“The change will be seamless and the company will be maintaining a ‘business as usual’ focus – enabling our clients to increase confidence in the engineering solutions that we supply”.
The MBO received support from Sterling Capital Investments, Investec Capital Solutions and Bondholder Flint Bishop Solicitors.