Atlas Leisure Homes – Sale of Business
Andrew Innes, Managing Director of Atlas Leisure Homes Ltd is pleased to announce today the sale of the business, Atlas Leisure Homes, to the Management buyout team for an undisclosed consideration. The private limited company founded by the three current shareholders, Andrew Innes, Bruce Harry and Barry Pattison in 2009 have disposed of 100% of the company’s shareholding to the MBO team.
The business will continue trading as Atlas Leisure Homes under the new management team consisting of Steven McGawn, Colin Jeffery and Philip Spark. Andrew Innes will remain engaged with the business for a period of 12 months as a consultant to the new MBO team.
Andy Innes, one of the founding shareholders of Atlas, said: “For over 30 years, Atlas has been built on strong values and grown a reputation as one of the leaders in our sector. We’re proud to leave the business in the safe hands of a management team which knows and understands it, and will continue to deliver first class products and first-class service to our loyal base of customers”.
The new management team, supported by HSBC, Mazars, BDO and Gately Plc in the transaction will continue with Atlas Leisure Homes’ strategy of continually developing its quality product range and steadily growing its business. Plus, with the introduction of lean manufacturing techniques and new technologies driving efficiencies they plan to relocate in the future to a new manufacturing facility on the recently acquired former Birds Eye site.
Speaking on the MBO. Phil Spark commented. “This is the next chapter in the history of Atlas Leisure Homes and will provide every employee with the opportunity to thrive and grow the business we all know and hold close to our hearts. It’s about looking after each other and doing the right thing for the business”.
Our mission is still to be an organisation made up of “People working together to be a world class manufacturing organisation”. We want our employees to be actively engaged in the running of the business and to help create a growth continuum. We’re on a fantastic journey here and one we can all benefit from in many ways. All of our employees share the vision Atlas Leisure Homes has and are taking the opportunity to come with us on this next chapter in our history and in playing their part in making the departing shareholders proud of the business they built up over the last ten years.