Siddall and Hilton Products, manufacturers of industrial fencing, welded wire mesh, has new management after a multi-million pound buyout.
The new management team are “hungry for growth” after acquiring the company recently.
Managing director, Neil Stewardson and finance director, Ian Thurley bought the business from the Siddall family who had owned the company since it was founded in 1898.
The deals means that Chairman Peter Sindall will focus on another business within the group – healthcare and medical supplier, Sidhil and Medequip.
The deal allowed an exit for the Siddall family and other shareholders.
The Yorkshire based manufacturer turns over £18m and employs 74 people at its Brighouse base.
The management team have “ambitious” growth plans to develop existing business channels. They also want to expand geographically and diversify the business’ product range as it grows.
Stewardson commented: “We are grateful to the Siddall family for their support. We also thank BHP Corporate Finance who played a key role as lead advisor and for their professionalism in delivering a bespoke funding package.
“We are also grateful to PNC Business Credit for sharing the belief and vision we have in our business plan. We have a great team of people at Siddall and Hilton Products Ltd and we are all hungry for further growth.”