The management team at Abatec, a North Somerset based recruitment company have carried out a management buy-out of the firm.
Richard Buchanan, Managing Director has been joined by fellow director Rob Dyer, who both led the deal and acquired 100% shareholding of the business.
local MP John Penrose can be seen here congratulating the new owners outside Abatec House in Weston Super Mare.
Abatec was established over 30 years ago and has grown to a £10m business, that supports its customers with temporary, permanent and contract staffing solutions, spread across the construction and engineering markets.
Richard said “I’m thrilled that after such an uncertain year we were in a position to proceed. The company today still includes many of the same core people, and this will ensure its exceptional depth of knowledge and quality services are continued”
Rob Dyer added “were proud to take ownership of such a well-known local business, we have both worked for Abatec for over 15 years, so we feel the company is in the perfect hands to continue to deliver for our clients.”
Advisors in the deal include Neil Dennis @ Bespoke Tax and Jo Bligh @ thinking Legal