Buyout team builds for growth

A Burnley-based business bought out by its senior management team earlier this year has revealed plans for growth as it emerges from the pandemic.

RAM Services, a specialist structural repair and refurbishment contractor, has a strong order book and pipeline of work.

Established in 1980, the company provides a range of services to the power and water supply and distribution sector, the wider civil engineering industry and to a range of public sector organisations.

It operates primarily in the North West of England but also works all over the UK and sometimes overseas.

The buyout deal, for an undisclosed sum, saw its shareholders retire and exit the business with Paul Haworth, contracts director, and James Best, business development manager, taking full control.

WNJ carried out financial due diligence for the buyout team. The MBO was completed in March this year, after being delayed by the Covid-19 pandemic.

Lancashire-based businessman Paul Lansom facilitated the funding to the deal and guided and advised the management team throughout the process, assisted by WNJ and solicitor David Southern of Vincents.

He said: “The deal took 12 months longer than it should because of Covid-19 but we managed to get it moving again and over the line and everyone involved was pleased with the eventual outcome.

“It is a really strong business with two new directors, and going forward, following a period of consolidation, the management team has some ambitious plans for growth.

“The company has a good reputation for quality and it is this quality ethos that permeates through all tiers of the operation. The future is looking really positive.”

He added: “WNJ did an excellent job during the MBO process and the business will be appointing them as auditors moving forward.”