Finance boss takes control at manufacturer after MBO

Skip Units, the Derby manufacturer of large waste containers, has been acquired by the group’s finance director in a management buyout deal.

The MBO sees the existing shareholders exit the business, whilst ownership transitions to Richard Stamps, the firm’s FD.

Stamps said: “I am proud to have completed this transaction and in doing so, put myself in a position to continue the legacy that my predecessors established over the last 25 years.”

“I would like to pay testament to the inspirational leadership the shareholders have shown over the last 25 years, which has culminated in them mentoring me for this day. Completion of the management buyout marks nine months of work for myself and my advisors, and I would like to place on record the specialist advice and commitment the teams at Smith Cooper, HSBC and Geldards have shown in bringing this transaction to a conclusion.”

Geldards addressed the legal aspects of the transaction, whilst funding was provided through HSBC. The vendors legal work was undertaken by Nelsons.