A South Yorkshire construction company has undergone a management buyout (MBO) as part of ambitious growth plans to invest in its people and clients.
Ecclesfield-headquartered HP Construction Ltd, established in 2006 and based at Hydra Business Park, operates nationwide across the industrial, commercial and motor retail sectors, and is well-known for delivering high-quality civil engineering and infrastructure projects.
The move, which secures the company’s long-term future and supports its next stage of growth, sees commercial director Nick Gillott, project manager Darren Bocking, and company accountant Amanda Hayes acquire the company from outgoing co-managing directors David Hutchison and Richard Powell, who have led HP Construction since inception.
MD Law corporate partner James Burdekin acted for David and Richard, with SMH Group’s Ross Jordan, partner at SMH Group, acting as the lead advisor alongside colleague Brian Rodger, senior tax manager, with Jo Dawson, managing director at Dawson Radford Solicitors acting for the new management team.
Nick Gillott, on behalf of the management team, said: “This transaction secures the future of HP Construction and provides a platform for the next phase of growth. Darren, Amanda and I are committed to maintaining the high standards the company is known for while building on its excellent reputation in the sector.”
Amanda Hayes, company accountant for the past 20 years, added: “I have loved working for David and Richard and seeing HP Construction grow into the successful business it has become over the past two decades. It is an amazing opportunity to be able to take the company forward with Darren and Nick. I am committed to ensuring the business remains financially robust while we continue to invest in our people and clients.”
Darren Bocking, project manager at HP Construction, commented: “Having been with HP Construction from day one when it was founded in 2006, I began as a site manager before moving into a project management role in 2014. Amanda and I also worked alongside David and Richard for over a decade before HP Construction, so together we share more than 30 years of experience. I’m excited to step into this leadership role and help shape the next phase of the company’s journey, ensuring we continue to deliver outstanding projects.”
David Hutchison commented: “Richard and I are proud of everything achieved at HP Construction. It is the right time to hand over to the next generation of leaders, and we are confident the business will continue to thrive under Nick, Darren and Amanda’s stewardship.”
James Burdekin, MD Law, added: “We were pleased to support David and Richard on this important transition, ensuring a smooth and effective process.”
Ross Jordan, SMH Group, said: “This deal represents a successful outcome for both the sellers and the management team. It secures the company’s future while enabling continuity and stability for staff and clients alike.”
Jo Dawson, Dawson Radford Solicitors, commented: “It was a pleasure to advise the management team on this transaction. We look forward to seeing HP Construction flourish under their leadership.”
Are you looking at how an MBO could be suitable for your business and need legal advice? For further information contact MD Law on 0114 299 4890 or email info@mdlaw.co.uk
