The management team at Abatec Recruitment, a North Somerset based recruitment company have carried out a management buy-out of the firm.
Richard Buchanan, Managing Director has been joined by fellow Director, Rob Dyer who both led the deal and acquired 100% shareholding of the business.
Abatec was established over 30 years ago and has grown to a £10m business which supports its customers with temporary, permanent and contract staff, supplying the construction and engineering markets.
Richard Buchanan comments: “I’m thrilled that after such an uncertain year we were in a position to proceed and buy the business. We have an excellent management team in place who will ensure we deliver for our customers.”
Rob comments: “We are proud to take ownership of such a well-known local business, we have both worked for Abatec in excess of 15 years and this is an excellent opportunity for us.”
Advisors in the deal include Neil Dennis @ Bespoke Tax and Jo Bligh @ Thinking Legal.