Moore Barlow acts on management buy out of Elecon UK

The Moore Barlow Corporate Team has advised the management team of Elecon UK, the Gosport-based manufacturer, on a management buyout as it embarks on the next stage of its growth journey. Financial details of the transaction are undisclosed.

Founded more than 30 years ago, Elecon UK designs, develops and manufactures fine limit sheet metal and specialises in light fabrication. Its expert team of engineers works with stainless steel, aluminium and mild steel, using state-of-the-art laser, punching, folding and coating technology to maintain the highest quality from design through to production. It supports a broad range of clients across the security, automotive and retail sectors.

This deal will enable Elecon’s existing shareholders – Stephen Stratton, Wayne Dyke and Janine Atkinson – to implement a succession plan and transition out of the business over the next few years, whilst enabling the new management team Simon Searle, Stephen Synnott and Nigel Harper to take ownership and pursue growth through a focused sales and new product strategy.

It also establishes a solid foundation for the future of the business and ensures the management team is well placed to continue to provide Elecon’s clients with the high-quality service the business has become known for.

The deal was led by David Bright, partner in corporate team at Moore Barlow and supported by  corporate solicitor Isabelle Balch and employment solicitor Chelsea Feeney.

“Elecon is a fantastic business that has been operating across Hampshire for more than 30 years. It has been a pleasure to support Stephen and his team on their succession plan, enabling them to transfer ownership of the company to a strong team that will really drive the future growth and development of the business. We’re excited to see what’s next in store for the future of Elecon.”

David Bright, Moore Barlow

“This was a great opportunity for not only the company but the new management team at Elecon and I have no doubt the business will continue to go from strength to strength under their ownership. I’d also like to thank the team at Moore Barlow for their hard work and continued support throughout this transaction, which meant it was completed in a timely and smooth manor. I would not hesitate to recommend them.”

Stephen Stratton, Elecon

The deal was also supported by a team of local professional advisors, including Prabin Sunar, manager at Meridian Corporate Finance and Cathy Revis, head of tax and transaction support at Fiander Tovell.

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