The management team of S & B Utilities in Knaresborough has successfully completed a buy-out of the civil engineering, mechanical and electrical and building maintenance company.
The Scotton-based utilities company with an annual turnover of £4.4million has signed a deal to enable it to strengthen its management team and lay a platform for future growth, with support and expert legal advice from Raworths Solicitors and finance through Yorkshire Bank in Harrogate.
The buy-out of S & B Utilities, which trades as SBU, has allowed the existing Managing Director, Keith Swales, to replace his partners with, Darren Swales and Karen Blackwood to strengthen the company’s position as a major utilities contractor in North Yorkshire
Keith Swales established the business nearly five years ago and in this time the business has grown significantly employing over 50 local people. Recently SBU was appointed as one of Yorkshire Water’s approved contractors.
Simon Morris, a partner at Raworths Solicitors in Harrogate, provided the legal advice, and steered the deal through to completion.
Keith Swales, director at SBU said ‘Securing this deal means we can strengthen the company from management level down and build upon our recent successes. Our commitment to building the business and increasing the workforce in Knaresborough is vital to our future success. We have confidence in our team and Raworth Solicitors gave us the advice and assurance to consider taking such a large step.’
For further information contact Caroline Barr on 01423 340126 or Simon Morris on 01423 566666.
For further information contact Caroline Barr on 01423 340126 or Simon Morris on 01423 566666.
