A management buyout has completed at Hull’s Atlas Leisure Homes for an undisclosed amount.
The private company was founded in 2009 by MD Andrew Innes, Bruce Harry and Barry Pattison. These three shareholders have now disposed over 100% of the company shareholding.
This business will continue trading as Atlas Leisure Homes under the new management team consisting of Steven McGawn, Colin Jeffery and Philip Spark.
Mr Innes will remain engaged with the business for a period of 12 months as a consultant to the new MBO team.
“For over 30 years, Atlas has been built on strong values and grown a reputation as one of the leaders in our sector,” he said.
“We’re proud to leave the business in the safe hands of a management team which knows and understands it and will continue to deliver first class products and first-class service to our loyal base of customers.”
The new management team, supported by HSBC, Mazars, BDO and Gately in the transaction, will continue with Atlas Leisure Homes’ strategy of continually developing its quality product range and steadily growing its business.
Plus, with the introduction of lean manufacturing techniques and new technologies driving efficiencies they plan to relocate in the future to a new manufacturing facility on the recently acquired former Birds Eye site.
Philip Spark said: “This is the next chapter in the history of Atlas Leisure Homes and will provide every employee with the opportunity to thrive and grow the business we all know and hold close to our hearts. It’s about looking after each other and doing the right thing for the business.”