Management buyout for Performance Doorset Solutions Ltd
Date published: 26 March 2019
Performance Doorset Solutions Ltd
A management buyout for the shares and assets of Performance Doorset Solutions Ltd (PDS) by a group of investors made up of current and former employees of PDS was completed on Wednesday 20 March.
The buyout helps to secure the long-term futures of employees and facilitates exciting growth opportunities moving forward within the door and joinery industry.
With the new management team, containing some of the previous directors and owners in place the company is in good hands going forward.
Tim Fairley, formerly managing director and founder member who has come back to lead the management buyout said: “When I was presented with the opportunity to get back involved with PDS and help to form this co-operative of investors it was an easy decision for me.
“The fact that PDS is now employee owned is brilliant for all involved and can only be good news for the town, as PDS are a major local employer. We have big plans to grow the business and further develop our already large portfolio of residential and fire-door products to the refurbishment and new build sector.”
Kevin Barnes, Sales Director said: “We are absolutely delighted to get this deal over the line and begin the hard work with the fabulous and dedicated team we have here in Littleborough.
“I have absolute confidence in the quality and specification of our product offering and I’m certain with all these essential elements in place we can offer a first-class service to all of our new and existing customers moving forwards.”
PDS will continue to operate from its 77,000 sq ft head office and manufacturing facility in Littleborough.
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