UK news: March 2002
MBO puts new team in charge at Crompton Controls
Invensys` sale of Brook Crompton to Lindeteves-Jacoberg has overshadowed the simultaneous sale of Crompton Controls to a management team.
The buyout of the Wakefield-based operation was led by former European sales director John Bradley who is now managing director. Dean Sweeney has taken on the role of sales director, while Simon Brooke will be production director.
Crompton Controls assembles and distributes low-voltage motor control equipment, including starters, fixed and variable speed drives, and control panels. It has 30 employees.
"Our strength as a small, but well-established, business is that we have been able to build close working relationships with customers and suppliers in the UK and overseas markets," says Bradley. "We now aim to exploit that by investing in those products where we have the greatest competitive advantage and by developing new market opportunities."
The buyout was backed by Yorkshire Fund Managers and the Bank of Scotland, with advice from McInnesCorporateFinance.