Manufacturer completes MBO

YORKSHIRE manufacturing company Chem Resist, which builds bespoke chemical storage tanks and process installations for some of the UK’s leading companies, has completed a management buyout.

The company, based at Dewsbury for almost 45 years, designs and manufactures solid thermoplastic and fully recyclable chemical storage tanks – supplying well known names including Glaxo Smithkline, Kodak, Corus, Agfa and Thames Water.

Managing Director Simon Hewitt, 39, who led the buyout said the succession plan was put in place some three years ago when the firm’s chairman and owner, Seamus Quinn, opted to take a less hands-on role at the company when he reached his mid-fifties.

Mr Quinn said: “It is recognised that succession issues can be a problem, particularly within smaller businesses, so we elected to carefully progress the buyout over a period of time – a process which has gone very smoothly indeed.”

Mr Hewitt said Mr Quinnn would remain as chairman “as he is such a charismatic and influential figure within the industry and Chem Resist’s client markets”.

He added: “Our strategic review and its implementation have already achieved a significant above target increase in turnover for year 07/08 – enabling us to progress towards our projected three year turnover target somewhat earlier than planned.

“There will be no significant change to the direction of the business and we continue to make positive strides forward across all areas.”

The company has a turnover of £3.2m and employs around 40 people.