The founders of Hampshire-based The Quarr Group have agreed a management buyout with the directors of its three subsidiaries: Mountjoy, Nviro and Pabulum. The companies specialise in building maintenance and construction, contract cleaning and contract catering respectively.
There will be no change to the existing staffing or management structure of the Fleet-headquartered group which also has offices in Portsmouth, Southampton, Winchester, Brighton, Surrey, London and the Isle of Wight.
Operating for more than 25 years, The Quarr Group now has an annual turnover of £70 million and provides support services for a portfolio of clients, including schools, academies, colleges, universities, local authorities, healthcare bodies, social housing providers and commercial businesses.
The MBO was supported by a finance facility agreed with long-term banking partner HSBC.
Anthony Reed, HSBC area director for Hampshire and Dorset, said: “We have been a banking partner of The Quarr Group for more than 10 years and in that time, we’ve seen the business go from strength to strength. We look forward to continuing our valued, long term relationship with The Quarr Group as they move forward with this exciting new phase of growth.”
The MBO team involves all the executive directors from the subsidiary companies and was led by the three managing directors; Brian Warren – managing director of Nviro, Nelson Williams – managing director of Pabulum, and Simon Ingram – managing director of Mountjoy
Commenting on behalf of the MBO team, a spokesperson said: “We are absolutely thrilled to have acquired The Quarr Group. We believe with the right investment in our people we can further develop our already excellent proposition. Mountjoy, Nviro and Pabulum’s shared desire is to enhance the customer experience and be recognised as leading partners in our respective industries. Our values will remain as the cornerstone of our business. Working with our great people we aim to deliver sustainable growth over the coming years whilst maintaining the high standards of service delivery our clients have come to expect.”