Harrogate based JSC (a man agement team) has acquired a subsidiary of a major US power technology group.
JSC is recognised within the chemical industry as one of Europe’s leading teams of consultants providing expert regulatory and risk assessment advice. With the introduction of new chemicals legislation, JSC is ideally placed to capitalise substantially on an international market which is worth billions annually.
Based at Windsor Court, Harrogate the firm works with some of the world's largest chemicals manufacturers as well as government agencies throughout Europe. Headed by managing director Lucy Croucher the MBO was managed by Bentley Jennison Corporate Finance who negotiated and structured the transaction and arranged the funding. Bentley Jennison have also been appointed company accountants and auditors.
Lucy Croucher said: "JSC has always been highly profitable and successful, but had no synergies with its US parent.
"The MBO gives us the freedom to develop our own business strategies and respond more quickly to the constantly changing EU Regulatory requirements."
Lead advisor from Bentley Jennison Steven Hubbard said: "From our first meeting, it was clear that Lucy was highly committed to the MBO and development of the business thereafter. Even the frustrations of dealing with a large US corporate, the accessibility of the decision makers and the different time zones did nothing to deflate her enthusiasm.”
Bank of Scotland provided the funding and Ross Clark of Harrogate based commercial law firm Davidson Webber acted as legal adviser to the management team.
