Lister Trade Frames looks to the future after MBO
THE management team of Stoke-on-Trent-based Lister Trade Frames, has completed a management buyout (MBO) of the business from the Lister family for an undisclosed amount.
The management team, made up directors Mark Warren, Phil Warren, Darren Pusey and Derrith Turner, have all held senior roles at the window, door and conservatory manufacturing and installation firm since 2000.
Under their management, the company has tripled its turnover and won a number of major industry awards, including the coveted national ‘Fabricator of the Year’ award on three occasions, most recently in 2012.
Founded in 1976, Listers employ 110 people at its premises in Fenton. The company manufactures glazing products in aluminium, PVCu and composite materials, but its focus is on providing added value for its trade customer base by offering supplementary business support such as personalised marketing, training, technical survey support and a wide range of other business advice services.
Malcolm Cook and James Ward from accountancy firm PKF acted as lead advisers for the management team. The law firm acting for the management team was Hawkins Hatton, led by Colin Rodrigues, with assistance from Ruth Murday and the corporate team.
Cook said: “This transaction demonstrates that it is possible to complete buy-outs in the current funding climate if you have a sound business plan, a strong management team, and advisers who really understand the market.”
Rodrigues at Hawkins Hatton added: “As with any management buy-out a key part of our role was to ensure that the deal progressed smoothly and was brought to a successful conclusion. We also had to keep in mind the expectations of the senior team who are now very well placed to build on the success they have achieved in the business over the previous years.”
