Yorkshire advisers complete sink rescue deal

A DEAL to save the future of a long-established North West manufacturer has been completed with the help of three Yorkshire advisory teams.

The management buyout (MBO) of belfast sinks and terracotta specialist Shaws of Darwen saves 70 jobs.

Hunter Kelly and John Sumpton from Ernst & Young’s Leeds office were appointed joint administrators to Shaws’ parent company bathroom products manufacturer Shires on March 31.

The MBO, which has been led by managing director David Dare, was backed by Meridian Equity. The business will continue to trade under the Shaws of Darwen name.

Oliver Hoffman, corporate finance partner of Leeds-based Mazars advised Mr Dare on the MBO.

Yorkshire solicitors Walker Morris acted for the purchasers and Pinsent Masons advised the administrators.

Mr Dare said: “It’s business as usual. Providing the highest levels of customer service and quality of products to our customer remains our priority.”

Joint administrator Mr Kelly, said: “We are delighted that we have been able to secure a deal that preserves this historic brand and 70 jobs despite adverse market conditions.”