A second management buy out in three years has been completed at Hull-based Atlas Leisure Homes.
The £38 million turnover operation, an employer of 460 people, has seen huge growth in the period, with the surging staycation market that emerged during the pandemic showing no signs of slowing.
Shareholder, sales and marketing director, Philip Spark has decided to retire, having been with the business for more than five years and seen it through the 2019 acquisition from the original owners.
Read more: Holiday homes giant Willerby back in growth as orders stack up to late 2024
Managing director Steven McGawn and operations director Colin Jeffrey have bought him out.
Mr McGawn, said: “With the sales order book being incredibly strong and the creation of two further production lines at our new Sutton Fields site, Phil felt this was the right time for him to retire from the business. We are grateful for the part that Phil played in both expanding our product range and growing the customer base to the current exceptionally high levels. We wish him a long and well-deserved happy retirement.”
Sutton Fields was added to aid the boom, allowing it to almost double staff from pre-Covid levels.
It has brought a 60 per cent increase in turnover.
Atlas’ northern sales director, Janette McClean, has been appointed as sales and marketing director designate, and is working with the senior management team to continue to grow the business, supporting dealers and holiday parks with the holiday home and lodge requirements.
Helen Phillips of HSBC provided additional working capital to facilitate recent activity, with Paddy Sturman at Irwin Mitchell Solicitors and Richard Morton at Black Solicitors providing legal advice. Corporate finance advice was provided by Rob Burton at Azets.
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