Structural, mechanical, and civil engineering firm completes manager buy out
EKSPAN, a structural, mechanical, and civil engineering company based in Barnsley, has completed a management buyout and has plans to move to new premises in Sheffield this year.
The MBO, which would not have been possible without a £750,000 equity & debt UKSE investment, secured the company’s ongoing presence in the region, retaining jobs in the local area, with plans to bring in nine further jobs.
The move sees the new owners Maximilian Angerer, Michael Fenton, Jordan Gerrard and Jon Spence take control of the business, alongside an experienced senior leadership team who have been integral to the business operation over the past 10 years.
Corporate advice on the deal was facilitated by Callum McLaughlin at Hart Shaw, who produced the forecasts and advice on the deal. Michael Hall at Knights Solicitors provided legal advice.
EKSPAN, established in 1990, specialises in the design and precision manufacturing of mechanical bearings and temporary works.
These bearings are used across a wide spectrum, including in bridges, marine installations, and various architectural structures.
In addition to its core services, the company offers a selection of temporary works equipment designed for bridge jacking.
Speaking on behalf of the management buy out team, Angerer said: “We are extremely grateful to UKSE, Hart Shaw and Knights for all their support throughout the acquisition.
“The initial investment helped to facilitate the MBO and secure the company’s future here in Sheffield.”
Callum McLaughlin, corporate finance senior executive at Hart Shaw Chartered Accountants and Business Advisers, said: “We are happy to have advised on the Management Buy-Out of EKSPAN.
“It was a pleasure working with the management team, who I am sure will take the business from strength-to-strength going forward with the reliable backing of UKSE. We wish them all the best for the future.”
Steve Lyon, area manager at UKSE, added: “Working with the MBO team at EKSPAN has been a pleasure. The success of the business to date has been a testament to the hard work and commitment of Max and the team.
“We can’t wait to see the company grow and as ever we are pleased to have positively contributed to a business which is creating job opportunities across the region.”