Essendon Group has negotiated the sale of installation manufacturer Woodteam from insolvency and business rescue practice Leonard Curtis, in a buy-out deal spearheaded by the company’s management team.
Crucial to the deal were Woodteam’s managing director Warren Cassidy, and Production Director Anthony Pollock.
As the new company’s financial partner, Essendon Group now owns 65% of the business, which will trade as Form Manufacturing Limited. Essendon Group’s CEO, Matt Evans, will join the company’s board of directors.
Evans commented that Form Manufacturing had “ambitious plans for the expansion of its manufacturing and drafting departments, and a commitment to embrace new technologies and materials in order to increase the depth and scope of its capabilities. The management team is determined to breathe new life into the company’s tried and tested manufacturing, design, project management and installation skills.”
Form Manufacturing employs over 33 local people and will continue to be based in Loughborough.
By Fred Crawley