Reece Safety Products changes hands
LANCASHIRE-based Reece Safety Products, which makes industrial safety equipment, has been bought out by a group of investors.
The business, based in Delph near Oldham, specialises in providing lockout/tagout equipment which helps to prevent industrial accidents by ensuring that electrical machinery and valves are disabled during repair or service work.
Established in 2002 by Jason Reece, the company’s customers include a number of blue-chip companies in the UK and overseas.
It has been acquired for an undisclosed sum by a consortium of investors, with the deal supported by a funding package from the Yorkshire Bank, which included senior debt finance and working capital facilities.
Reece Safety Products’ new management team includes Roz Carr, who is promoted to operations director from her former position as operations manager, and Andrew Graham, who joins the company as managing director. Jason Reece will remain involved in the business.
Mr Graham said: “Reece Safety Products has built an excellent reputation and wide client base since it was founded 11 years ago. We’re pleased that Yorkshire Bank understands our needs and supports our growth aspirations.”
The deal was delivered by Peter Smith and Jon Hall, directors at Yorkshire Bank’s business and private banking centre’s acquisition finance team in Manchester. Legal advice was provided to Yorkshire Bank by DWF and financial due diligence was carried out by Baker Tilly.
