Gosport's Elecon UK undergoes management buyout

Elecon UK, a Gosport manufacturer, has embarked on an ambitious MBO as part of the company's expansion plans.

The company, which was established more than three decades ago, specialises in light fabrication and designs and develops and produces fine limit sheet metal. The company provides support to a wide range of customers in the retail, automotive and security industries.

With the help of the agreement, Elecon's current shareholders Stephen Stratton, Wayne Dyke and Janine Atkinson will be able to put in place a succession plan and gradually withdraw from the company over the coming years, while Simon Searle, Stephen Synnott and Nigel Harper, the company's new management team, will be able to assume control and pursue growth. Additionally, it aims to lay a "strong basis for the business's future."

Elecon shareholder Stephen Stratton said this about the news: "This was a great opportunity for not only the company but the new management team at Elecon and I have no doubt the business will continue to go from strength to strength under their ownership."

Partner in the corporate team at Moore Barlow David Bright - who led the deal - said this: "Elecon is a fantastic business that has been operating across Hampshire for more than 30 years.

"It has been a pleasure to support Stephen and his team on their succession plan, enabling them to transfer ownership of the company to a strong team that will really drive the future growth and development of the business. We're excited to see what’s next in store for the future of Elecon."

Main picture courtesy of Elecon UK / Pexels (Creative Commons Licence)

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