Growth plans heat up following MBO

Two employees from Airflow World Group who have worked for the industrial oven manufacturer for a total of 35 years, have completed a management buyout.

Samantha Hancock-Ridge and Gary Clark have purchased the Sheffield-based company from Nigel and Elaine Sharp, which has been trading from its 30,000 sq ft modern manufacturing unit on Underhill Lane since 1985.

The company which employs a team of 28, designs, manufactures and installs bespoke industrial ovens, laboratory ovens, spray booths and controlled environment enclosures for a range of sectors including aerospace, pharmaceutical, composites and electronics industries across the globe. Its clients include Formula 1 teams and several blue-chip and Aim listed companies.

Clark said: “I started my career with Airflow as a sheet metal worker straight from school, 28 years ago! I worked my way up to become the operations director and have a huge pride in the business and everything it has achieved to date.

“We provide a complete package that includes specification, design, manufacturing, installation and commissioning, and because we continually invest in the latest technology and have such knowledgeable and experienced teams, we have become the go-to supplier for many businesses throughout the UK and abroad.

“We manufacture a huge number of products in every size, type and temperature range, including a standard range that can be dispatched immediately as well as bespoke units that are made using our modular construction system. With a £2.7m turnover and loyal client base, we plan to continue growing the business.”

Following the MBO Dave Hyde will continue in his role as managing director.

Samantha and Gary were advised by Hentons Corporate Finance, with Samantha Sellars and Matt Milnes providing combined legal and corporate finance services throughout the MBO process. The vendors were advised by Taylor and Emmet Solicitors.

Samantha Sellars said: “Both Samantha and Gary have the knowledge, experience and energy to expand the business even further, and it was a real pleasure to work with them as they take ownership of the business.”