Skip Units Limited, the UKs leading manufacturer of large waste containers and part of the wider Ramshorn group, has been acquired by the group’s Finance Director in a management buyout deal.
Skip Units Limited manufacture intellectually engineered, long lasting waste containment products. They have been providing waste solutions for over 40 years and have established an enviable reputation in the industry.
The management buyout sees the existing shareholders exit the business, whilst ownership transitions to Richard Stamps, the Group’s Finance Director.
In regard to the deal, Richard Stamps comments “I am proud to have completed this transaction and in doing so, put myself in a position to continue the legacy that my predecessors established over the last 25 years.”
“I would like to pay testament to the inspirational leadership the shareholders have shown over the last 25 years, which has culminated in them mentoring me for this day. Completion of the management buyout marks 9 months of work for myself and my advisors, and I would like to place on record the specialist advice and commitment the teams at Smith Cooper, HSBC and Geldards have shown in bringing this transaction to a conclusion.”
Geldards addressed the legal aspects of the transaction, whilst funding was provided through HSBC UK Bank Plc. The vendors legal work was undertaken by Nelsons Law.
Smith Cooper, named SME Advisory Team of the Year in 2018 both the East and West Midlands and Best Medium Accountancy Practice of the Year 2019, have completed several notable landmark deals in the last 12 months, including the sale of Prestige Fleet Servicing, the multi-million-pound BIMBO of MRDB and the landmark sale of iconic British performance apparel brand Gill Marine.
