MBO team aims to build on Raw’s success
JOINERY and building company G K Raw and Co has been acquired in a management buyout.
The 30-strong Harrogate-based business specialises in fitting-out pubs, hotels, nightclubs and cinemas for clients including William Hill and Gala.
G K Raw, which has been run by husband and wife team Ken and Betty Raw since it was established in 1973, has been sold to its management team made up of director of contracts Stephen Ward and director of surveying Timothy Kitchen.
The company, which was founded with four people and partnered with a design build company on early contracts that included refurbishing bingo halls and working men’s clubs, had turnover of £4m in 2007.
Law firms acting in the deal were Harrogate-based Davidson Webber for the vendors, Raworths for the MBO team and Berwins for the bank funder.
Neil Large, corporate partner with Davidson Webber, said: “Ken and Betty have created a hugely successful company from humble beginnings and are delighted that Stephen and Timothy will further build on the achievements of a business which has been an important part of Harrogate’s economy for over three decades.”
G K Raw now directly employs teams of tradesman that are experienced in the shop-fitting industry and commissions sub-contractors for full fit-out services.
