A North East engineering consultancy has undergone a management buy-in ahead of what it says will be further growth.
Directors Alex Erskine and Reece Kesson are each taking a 25% stake of the holding company of the Seaton Burn-based RWO Group in an undisclosed deal. Meanwhile founder and current managing director Ross Oakley retains a 50% stake in the business.
Mr Erksine will continue his position as group director of civils while Mr Kesson will develop his role as group director for structures. RWO says that both will focus on a strategic plan to drive growth of the 35-strong firm which operates three offices across Newcastle, Stokesley and Leeds.
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Managing director Ross Oakley said: "I believe the future is extremely positive for the company and we look forward to developing further the range and quality of the services we offer and supporting our clients as they too invest in developing their operations despite the challenging times. We have in place a growth strategy for the business and several strategic partnerships, which will help progress the business further and bring even greater opportunities. I’m already extremely proud of what RWO has become and look forward to us achieving even more success in the future."
RWO says it has enjoyed a strong 12 months and that the latest move will tie the business closer together with greater collaboration and improved service across its civils, structures and geotechnical departments.
Recent successes for the firm include a six figure contract secured to support construction of a multimillion-pound care home and assisted living facility in North Yorkshire. RWO will provide civil and structural engineering services to the Housing 21 scheme which includes six pairs of semi-detached units.
And it has won new work across its geotechnical services offer, including ground investigation for residential housing development work at Wynyard Village for Cameron Hall Developments and another North East developer in County Durham.
The MBI was completed with support from Chris Hughes at Mincoffs and Claire Smailes at Azets.
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