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MBO at Lancashire automation firm prevents takeover

16 February, 2011

The Blackburn-based industrial distributor LC Automation is entering a new era after completing a management buyout. When the previous owner retired, the new team of directors made the move to prevent a third-party takeover, with all four directors investing in the deal.

In addition to managing director, Malcolm Chadwick, the team consists of: Peter Stott, who joined LC Automation 24 years ago as a trainee sales engineer; Phil Dowell, who joined in 1996 as company secretary, and is now financial director; and Paul Catherall, who joined LC as a YTS trainee 23 years ago and is now operations director. The picture above shows, from left, Catherall, Chadwick, Stott and Dowell.

“The buyout ensures the company remains in the hands of the people who know it best,” says Chadwick, “and allows us to continue to expand and diversify the business.

“Employees will have the opportunity to progress just as I, and the rest of the directors have,” he adds, “and their jobs will remain as secure as they were before the buyout.”

LC Automation, which distributes factory automation and safety products from 21 suppliers, recorded a 25% increase in turnover last year.

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