Edwards Chartered Accountants advises Servosteel on successful MBO

Midlands’ firms Edwards Chartered Accountants and George Green LLP have directed the successful management buyout (MBO) of Steelstrip Services Ltd t/a Servosteel, advising the senior leadership team on the transaction.

The MBO sees the team – made up of Steven Dickens (Commercial director), Darryl Macready (Operations director), Sarah Ostins (Finance and HR director) and Richard Burton (IT and Systems director) – taking full control of the business, with its former owners Mark Anderson and Phillip Guest stepping aside, following a successful eight-year tenure that saw the business return to independent ownership.

With “extensive industry knowledge”, it said the new ownership team are well placed to take the business forward, ensuring a “smooth transition” between owners, continuity and delivery of a business-as-usual approach.

Together, the MBO team has nearly 60 years of history working for Servosteel and possess a wealth of experience and knowledge within the steel industry and in steel processing.

Dickens said: “We are delighted to have completed the MBO and are excited to build on the excellent platform already established. We are confident we can lead the business into a new and even more successful era through further growth and diversification.

“Our advisers, Edwards Chartered Accountants and George Green LLP supported us through every step of the MBO – and as a team we knew we were in safe hands. They worked tirelessly to deliver on a tight timescale.”

Steven Holden, head of Tax at Edwards Chartered Accountants, added: “Working with existing management teams to ensure a smooth transition of business is always rewarding, and the team at Servosteel were no exception to that rule. We certainly look forward to watching the team’s successes as they take the business forward into a new era of ownership.”