Leeds-based Fenton Packaging Solutions has been sold by way of a management buy out (MBO). Ownership of the company has passed from former Managing Director Bob Clarke to sales development director Chris Warren, supply chain director David Wilson, and finance director Sharon Dakin – who are now joint managing partners.
“Over the last 18 months, Bob Clarke had very much stepped back from the day to day running of the company with a view to considering a number of options regarding the sale of the business and to plan for his semi-retirement,” says finance director Sharon Dakin. “After considering a number of selling options, the MBO option was viewed by Bob as the preferred route for his exit from the company.
“As an MBO team we are very pleased to assume responsibility and ownership of the company as we feel that our continued involvement provides both a balanced and stable management platform to support the business moving forward. We are also a known, committed and visible management team and as such have been able to positively contribute to the improvement of the company over the last two years.”
Last year, the company relocated to a 65,000 sq ft site in Leeds and rebranded as Fenton Packaging Solutions. The company had invested over £1 million to streamline its operations, and put a new fleet on the road. A year later, the company has continued to expand and is now investing in the future.
“We recognise that the most important element of any business is its people,” says David Wilson. “We currently employ just over 40 full-time staff members, and we are now introducing a graduate program.
“We have also begun the process of becoming an accredited Investors in People organisation. In addition, we are actively investing in the latest and most advanced software systems to better manage the business, and that will also help us attract young talent, which will help secure Fenton’s future.”
The company is also planning to expand into international markets.
“Fenton Packaging began over 75 years ago, so together, the MBO, relocation, and rebranding – coupled with major investment in systems and people – represents a very exciting step in our long history,” concludes Sharon Dakin. “As managing partners, David, Chris and I are excited about the future and feel sincerely that that MBO solution is the best possible outcome for the business in the long-term.”
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