MBO at custom vehicle conversion business
The management team of a custom camper business Convert Your Van has acquired it from its founders.
Husband and wife entrepreneurs Katrina and Scott Muldoon founded Sheffield business Convert Your Van, which does custom camper van conversions, as well as manufacturing flat-pack DIY camper van fit out furniture and products.
They have now sold it to manager Daniel Staniland, who aims to growand diversify the company from the lifestyle business the Muldoons had intended.
The duo planned to exit the business, and Staniland put together a buyout team consisting of Lisa Pogson, Mark Staniland and Julie Robinson and, with advice from Neil Large of Lupton Fawcett. The deal was completed in just three weeks.
The newly-acquired business has also relocated to Dinnington premises with assistance from Andrew Nettleton at the Rotherham Investment and Development Office (RiDO), and created another job, as well as preserving those of the existing three members of staff.
It has also received a cash injection to provide a funding line for further growth and development.
Daniel Staniland said: “Having worked in the business for the last couple of years, I could see the huge potential for Scott and Katrina’s business.
“What set out as a hobby was quickly turning into a full time business for them, so they asked if I wanted to take it on so they could concentrate on other new and existing business interests.
“I had no hesitation in grabbing the opportunity with both hands and I would like to thank my fellow investors, as well as Neil Large from Lupton Fawcett, for acting so quickly to enable the deal to conclude in just three weeks.
“There is untapped potential for Convert for Van and I am looking forward to building on the bedrock of success provided by Scott and Katrina.”
Neil Large, of Lupton Fawcett, said: “It was a pleasure to work with the four-person buyout team who are all highly focussed and know exactly where they want to drive the business. There is a lot of consolidation in the market so these will be exciting times for the business under its new ownership.”
Pictured: Neil Large of Lupton Fawcett, Daniel Staniland, Mark Staniland, Julie Robinson and Lisa Pogson
