Noise reduction firm undergoes management buyout
Blackburn noise reduction specialist WSBL has changed hands in a management buyout, for an undisclosed sum.
Formerly Wardle Storeys (Blackburn) Ltd, the company designs, develops and manufactures thermoplastic polymer materials with acoustic insulation and vibration dampening qualities for sale mainly to the construction, automotive and oil and gas sectors under a number of brands.
It operates from two sites in Blackburn and employs 65 staff.
The firm has been manufacturing noise control polymeric barriers, combined with foams and felt materials, since the 1950s. For many years it was part of Wardle Storeys Group, owned by Alchemy Partners, before becoming independent in 2008.
WSBL exports 40% of its products to the USA, Far and Middle East and many European countries.
It has recently been awarded an important contract for bespoke insulation which is being used on air purifier units which will create new job opportunities within the company.
Heat, ventilation and air conditioning (HVAC) has become an important area of growth for the business.
The MBO has been led by managing director, Juan Comandi, who has more than 20 years of experience in the acoustic insulation materials sector and has managed businesses in Germany, Spain and the UK.
He said “I’m excited to lead the next generation of management in buying WSBL and taking the company forward. We have ambitious plans to grow the business over the next few years.”
Jeremy Cole and David Middleton of Cole Associates Corporate Finance acted as lead advisers to the MBO team.
A team led by David Bowcock at Fieldfisher’s Manchester office provided legal advice to the MBO team.
The buyout was funded by Shawbrook Bank, led by Matt Greenhalgh, with facilities to support the acquisition and provide working capital.
Barney Leaf, of Bermans, advised the selling shareholders.
