Cumbria-based Bainbridge Electrical has been bought in a seven-figure management buyout (MBO).
The industrial and commercial electrical engineering contractor has been taken over by commercial manager James Dickinson, who has acquired the business from the Bainbridge family.
James will become managing director of the company and plans to keep the business moving forward while building on the existing customer base and embarking on an ambitious growth strategy.
Bainbridge Electrical, based on Beezon Road trading estate, employs a workforce of 28 and carries out a range of industrial and commercial electrical work throughout the North West.
David Bainbridge founded the business in 1959 and it’s been run by his sons Geoff and Steve since 1999. This deal acts as a succession plan to the next generation of management. Steve has now retired while Geoff will continue to work for the company as a consultant.
Harrison Drury’s mergers and acquisitions team acted on behalf of Bainbridge Electrical in the negotiations. The team was led by David Filmer.
David, a director at Harrison Drury, said: “We are delighted to have acted on behalf of Bainbridge Electrical. As a family business it was important to Geoff and Steve that the company was taken over by someone as passionate and as involved as they have been, and James is a great fit.”
Bainbridge Electrical’s services include design and installation of electrical works, instrumentation, safety systems, pumps, controls and automation.
Harrison Drury’s mergers and acquisitions team specialises in all forms of transactional services including management buyout, acquisition of a competitor and retirement sales.
Cartmel Shepherd, Armstrong Watson and Mercia were also involved in the deal.