A WARRINGTON-BASED building control system designer and installer has been acquired by an Employee Ownership Trust.
With the support of a seven-figure funding package from HSBC UK, the newly formed Employee Ownership Trust (EOT) has made a 100 per cent purchase of Building Technology Systems from current owners Graham Spark and Dean Brookes. The existing owners were keen to adopt this route as it allows them to stay in operational control of the Company until their eventual future retirement, with a smooth transition of management over a number of years for their customers and staff.
All jobs have been retained following the buyout of Building Technology Systems by the EOT.
Graham Spark, existing qwner and director of Building Technology Systems, said: “We’re incredibly proud to have built an innovative business that has stood the test of time for over 20 years. The time was right to ensure the future of this company so when the opportunity came to pass ownership to our employees, we were confident that this would put the business in the right hands. This buyout will guarantee that the business can continue to provide reliable control system solutions for our customers as well as job security for our employees.”
Stephen Wright, business banking relationship manager for Greater Manchester, HSBC UK, said: “For over two decades, the company’s directors have created an innovative and progressive building systems management company earning an excellent reputation for service and quality throughout the UK. The new Employee Ownership Trust is made up of individuals that completely understand how the business operates and we’re fully confident that they can continue to lead BTS to long term success.”
Sam Roden, business banking area director for Greater Manchester, HSBC UK, added: “We’re delighted to support BTS as it enters its next chapter in achieving its growth aspirations. HSBC UK support a large number of employee owned businesses and are actively looking to engage with organisations that are considering the transition as part of their succession plans.”
Established in 1996, Building Technology Systems employs 54 staff across nine roles. The business designs and installs integrated building control systems for controlling HVAC systems, lighting, door access and CCTV, as well as energy management services and full after sales maintenance.