MBO at Haigh Group
Who?
Herefordshire waste management company Haigh Group.
Did what?
Wwill remain in the hands of its founding family after a management buyout at the group.
What does this mean?
The team at the Ross-on-Wye company is led by managing director Luke Shepherd. Haigh Engineering employs more than 100 workers and has a group turnover of approximately £8m.
Who advised?
Manchester law firm Pannone, led by Mark Winthorpe, advised the management team. Bond Pearce and Burges Salmon also provided legal advice. Lloyds TSB Commercial and Commercial Finance provided the funding for the deal.
Insider comment:
Haigh Engineering was established in the 1950s and manufactured the first British-made kitchen waste disposal unity - the Tweeny. In the year to 20 April 2009, Haigh Group reported a pre-tax profit of £159,993. Gross profit growth dropped by 12.5 per cent.
