Sapphire polished for a brighter future

Northampton Corporate Finance specialists, Watersheds are pleased to announce the Management Buy In and Buy Out (BIMBO) of Sapphire Controls by Robert Doe and Keith Reynolds.

Sapphire Controls supplies the electrical distribution requirements of high profile customers such as the NHS, internet service providers, O2 Arena, high rise buildings, hotels, BBC, Channel 4, and financial institutions including Barclays, Deutsche Bank, RBS, Citibank, the LSE, amongst many more.  Keith and Robert have extensive experience in electrical engineering and replace the Company Founder and outgoing CEO, Andrew Rackham, who is retiring after over thirty years at the helm.

Andrew Rackham stated that,

“As the only member of the management team leaving the company, my objective was to leave it in capable hands to safeguard its long-term future and keep it in Norwich.  Many of the staff have been with the Company for over twenty years and have a wealth of experience to offer the new owners.  In Keith and Robert we have found the perfect combination of experience and drive to guarantee the future of Sapphire Controls.”

Keith Reynolds, the new Chairman said:

“I look forward to a long and prosperous association with Sapphire Controls, a very well run and managed company. The management and staff have been very welcoming and professional and I am excited to be working with such a class act.  David Fletcher of Watersheds did a superb job bringing the opportunity forward and driving it to completion.”

Robert Doe, the new CEO, said:

“I have been looking for an opportunity where I can utilise my engineering and finance skills and Sapphire is the perfect company.  I am grateful to Watersheds for proposing this very exciting opportunity”.

David Fletcher of Watersheds, located on South Bridge Road, said:

“I take great satisfaction in bringing together such well-matched parties.  Sapphire Controls has two very capable directors joining it for the long term with a view to building on the success of the last thirty years and expanding it over time.”

The solicitors in the deal were John Keeble of DFA Law, Northampton and Paul Warman and Richard Turner of Leathes Prior, Norwich.  Funding for the deal was provided by ThinCats and Finance East is providing working capital funding post-completion.

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