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Second MBO at Boalloy Group
Page 9
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CONGLETON-BASED trailer manufacturer Boalloy Industries has undergone a second management buy-out.
The group includes M+G Trailers and the newly formed Boalloy Fastruck company ( CM 14 July).
The buyout will enable managing director Gerry Brown and technical director Grahame Potter to retire.
Former sales boss Jim Watt takes over as manufacturing director, with David Hancock continu ing as company secretary and finance director. The pair were part of the team that led the original management buy-out in 1992. They are joined by Russ Adams. who becomes group MD.
Non-executive chairman Sir James Duncan stand down as part of the reshuffle.
No adverse effects are anticipated on the 400 Boalloy staff at the company's four sites. Group turnover was £32m for the year ending March 2005.