Durham law firm Swinburne Maddison has concluded work on a management buy-out at a Washington business.
The firm advised the current management team at NE&C Windows and Doors in respect of the acquisition of the entire issued share capital of NE&C, facilitating all aspects of the transaction to completion.
The opportunity to undertake an MBO was created by the retirement of the business owners, Ed and Heather Ramshaw, who established NE&C twenty years ago.
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Operating throughout Tyne and Wear, County Durham, Northumberland and Teesside, the company supplies and installs doors, windows and curtain walling. It offers a bespoke product range for trade and commercial businesses including the manufacture, supply and fitting of its products for large-scale projects together with housing developments, retail units, offices and distribution centres.
With a new management team comprising Paul Readman (commercial director), Rachael Parkin-Wade (finance director) and Michael Massy, (operations director) the company is now setting its sights on the future.
Managing Director Steve Allen said: “I have worked here for over twelve years and I am very pleased we have been able to agree terms with the former owners, Ed and Heather, enabling us to take the company forward to a new phase of development.
"As a company we have a small staff turnover, which is great for continuity and building a strong team. Our plan...
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