A Stockport engineering consultancy has undergone a successful Management Buy Out funded by a loan from Mercia Technologies PLC subsidiary Mercia Fund Managers.
The deal will give control of Cheadle Hulme based WML Consulting to Nigel Garside and co-directors Andrew Leng and Loughlin O’Gorman, and allow for the retirement of long-serving directors Raymond McDonald and Christopher Wallace.
Founded in 1983, WML has built a reputation as specialists in the renovation and refurbishment of historic buildings including including Bolton Market, Victoria Baths in Manchester and Liverpool’s Old Royal Infirmary.
WML’s work crosses a wide range of sectors including retail, education, pharmaceutical and residential. Services include Road and Drainage design, Flood Risk Assessments, Geotechnical Investigations and Ballistic Design.
The Stockport engineering consultancy has seen its workforce grow to just under 40 with an annual fee based turnover of £3m
Andy Heaton, investment manager with Mercia Fund Managers, said:
“WML is a well-established and respected consultancy.
“Nigel, Andrew and Loughlin have been responsible for its day-to-day management for the past two years in readiness for completion of the MBO – this deal enables them to take overall control of the business and take it forward.”
Watts Commercial Finance provided fundraising advice to the management team.