One of the UK's largest electrical contractors has announced a management buyout (MBO).
Gloucestershire-based Clarkson Evans was established by Steve Evans in 1981 and now employs 850 staff across 21 UK branches. The family-run Staverton firm has a turnover of £65m and wired more than 24,000 new UK homes in 2021.
The MBO will see control pass to the existing management team and Mr Evans, the current chair, stepping into the role of non-executive chair. His son, Nathan Evans, the company's previous managing director, is also taking up a non-executive position.
Mr Nathan Evans stepped down as managing director in December after some 26 years with the firm.
Lindsey Young, chief executive of Clarkson Evans, said: "Steve and Nathan Evans will maintain shares in the business and will remain as non-executive directors.
"The business will now be led by the remaining existing directors, who have 75 years of experience working for the firm between them."
Ms Young said the new management team was planning to expand the company and "push past" a £100m turnover.
Alongside Ms Young, the firm's new owners include finance director Doug Sparrow; production director Chris Pike; technical director Leigh Mason; and commercial director Tim Bisp.
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