MBO of Sheffield firm led by long-standing employee

AN employee who joined materials testing business NDT in 1991 has led an MBO of the Sheffield firm.

Tim Elwell joined as a metallurgist and is now the sole shareholder after buying out his fellow co-managing director Peter Firth. Mr Firth is leaving the business he acquired from his father, Ray, back in 2008.

NDT which employs 45 people supplies its hi-tech services to industries including power, transport, aerospace and oil and gas. It is continuing to invest in new services, including in new immersive ultrasonics where items are submerged in water for precision testing.

Mr Elwell said: “The business went from strength to strength under Peter and has excellent opportunities to grow further. Our advantage is that we are not confined to any particular kind of testing.”

Wes Scales, of chartered accountants Mark J Rees, said: “We’ve been proud to be involved in NDT’s success during three decades, including advising on the three MBOs. Tim taking over is a natural progression and the straightforward deal structure reflects that. It’s a good deal for both parties.

“NDT is a growing business with a successful past, vibrant present and a great future in a growing sector with great opportunities.”