Switch in ownership at manufacturer after MBO

A Derbyshire-based manufacturing company has new owners following an MBO with financial support from Barclays.

See-Tech, based in the Alfreton area of Derbyshire, has been bought out by its management team with an EFG loan and working capital facility provided by Barclays.

The company specialises in the manufacture of distribution switchgear and motor control equipment and supply hospitals, colleges and schools as well as the mining, steel and power industries.

See-Tech was first established in 1992 by its original owner Gerald Kaye. In 2007, David Lilley, bought out his business partner and developed the company into a £2.3m turnover business.

Jane Hewes managing director said: “The company has grown over the years due to the hard work of its dedicated employees, some of whom have been with the company 17 years. We want to continue to build on this success and shape the business for future growth.”

The company has for many years run an effective apprenticeship programme of which Ross Marshall, engineering director and Liam Marshall, operations director, were part of. Both are now part owners together with Ryan Kealey, sales director.

Alan Mele, relationship director at Barclays in Derbyshire and Nottinghamshire said: “We are delighted to have been able to support the management team at See-Tech to purchase the business. The team has excellent plans for growth and I look forward to working with them in the future.”