RBS Supports MBO at Central Insulations Ltd
Posted on 11. Aug, 2010 by editor in Business News
Central Insulations Ltd, the Grimsby-based installers and providers of insulated cold and chill rooms to the UK food industry, has been bought by its management team in a transaction assisted by The Royal Bank of Scotland (“RBS”).
Director Paul Walmsley has acquired the business for an undisclosed sum from the current shareholders. RBS provided assistance with the purchase of the business and running costs, together with additional services to facilitate efficient administration of their financial processes.
Established in 1986, Central Insulations Ltd which is based in the Wilton Road Industrial Estate, Humberston, has grown its business over the past 24 years and now provides a premium service to the food industry offering quality products including insulated composite panels and fire resistant elements to construct cold rooms, chill rooms and temperature-controlled environments within the UK food industry.
Central Insulations Ltd has over 300 customers throughout the UK and employs 9 staff.
Commenting on the Management Buyout, Paul Walmsley, Managing Director, Central Insulations Ltd, said: “I am really excited about the buyout and know it will start a new era for Central Insulations Ltd, our customers and our employees. We are a successful business with a proud history not only for providing quality products, but also for tailoring our services to fully meet our customer’s needs. The buyout will not only ensure our future growth, it will provide us with a clear and strategic direction, which will see the company expand into other demanding areas, such as the pharmaceuticals sector.”
RBS Relationship Manager Julia Drever commented: “I am delighted to have supported Paul Walmsley with this buyout. Paul has been an important part of Central Insulations Ltd for 16 years and has a wealth of experience in the industry. He has a clear direction of where the business is headed and has a very pro-active and highly motivated team behind him. The business is in great hands and we wish them well.”
