The UK’s largest electrical contractor has secured a seven-figure sum to support a management buyout (MBO).
Gloucestershire-based Clarkson Evans, established in 1981 by current chairman Steve Evans, said it would also use the funding from HSBC UK to diversify into the renewable tech sector as demand from builders continues to increase.
The MBO was first announced in January and will see control pass to the existing management team while Mr Evans steps into the role of non-executive chair. The firm's new owners include chief executive Lindsey Young; finance director Doug Sparrow; production director Chris Pike; technical director Leigh Mason; and commercial director Tim Bisp.
