A management buyout is taking place with a Yorkshire high-tech engineering business with backing from Leeds-based private equity finance house, Endless.
Sewec Automation is really a 22 million-turnover business that designs and engineers automated manufacturing and packaging systems for just a client base of worldwide blue chip companies.
The management team of Gary Day, Karl Conqueror and Paul Johnson led the buyout together with the backing of Endless to assist the organization grow and expand into new markets.
Sales Director Paul Johnson said: “We are happy to work with Endless and search toward a fantastic future together.
“We are suffering from together a sustainable growth strategy that the business to flourish further, while being sure our employees remain engaged, satisfied and aligned with your vision.
“Working with Endless ensures the organization can are employed in the future while using financial security who’s has enjoyed prior to now.”
The vendor Bernard Meehan, the driving force behind turn out to be and expansion of Sewtec in the last 2 full decades, will as consultant. He chose Endless over the wide variety of other potential backers.