HSEC completes £2.7m MBO
Director of consultancy Dom Barraclough assumes control as MD
Health Safety and Engineering Consultants (HSEC), a risk management consultancy firm based in Lancashire, has changed hands following a management buy-out (MBO).
The deal, which is thought to be worth £2.7m, has been led by Dom Barraclough, HSEC’s director of consultancy services, with support from venture capital firm EV. Debt has been supplied by the Co-operative Bank. Under the terms of the agreement, Barraclough has assumed control of HSEC as managing director, and EV has acquired a minority stake in the business. HSEC’s founder, Bob Mitchell, will retain an active role in the business, as well as a significant financial interest. Simon Ward, investment director at EV, said: “This is a traditional MBO, building on 20 years of history and achievement. “This deal demonstrates that despite the current funding environment, good management teams can still find support”.