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Hazlewoods’ corporate finance team has advised Central Cladding Systems Ltd on its successful sale in a management buyout (MBO) to its management team.
Ownership of the Gloucestershire construction company has changed hands for the first time in 40 years due to the deal.
Founded by brothers Ross and Nick Gowell in 1982, Central Cladding specialises in the design, supply, and installation of all types of commercial roofing and cladding systems.
The company works with numerous blue chip construction companies and has been responsible for multiple high profile local projects including the regeneration of Gloucester town centre; the University of Gloucester media centre; and several high-tech offices at Gloucester Business Park.
According to the company’s new owners, they are determined to uphold the standards laid down by the Gowell family and ensure that “the loyal and skilled tradesmen employed by the Company continue to be valued”.
Rich Grover, finance director at Hazlewoods, said: “This is a fantastic outcome for such a highly regarded Gloucestershire company.
“It was a privilege to help Ross and Nick exit the business and put it into such capable hands. I would like to wish Mark and Ryan every success and Ross and Nick a happy retirement.”
Ross Gowell said: “This is the start of an exciting new era for Central Cladding, and we couldn’t be happier that Mark and Ryan are going to drive the business forward.
“The assistance of Rich Grover and the Hazlewoods team was invaluable.”
