Forden Concrete Products secures a £45k loan from the Development Bank of Wales for a management buy-out
The funding supports director Shane Clee in acquiring the established precast concrete manufacturer.
Welshpool-based manufacturer of precast concrete products for the agricultural sector, producing items such as water troughs and slurry systems.
Forden Concrete Products has secured a £45k loan from the Development Bank of Wales to facilitate a management buy-out led by director Shane Clee.
Director Shane Clee has acquired the business from founder Geoffrey Jarman, who established the precast concreting firm in 1978. Clee, who joined the company in 2001, plans to use the capital to support future growth and diversify the product range with new lines such as concrete wall panels for domestic and commercial gardens.
The financing is provided through the Wales Flexible Investment Fund, which offers loans, mezzanine finance, and equity investments to businesses across Wales.
From the founder
"After 24 years with Forden, this is a great opportunity to take on the business myself and work with our close-knit team to continue doing what we love and know best. We’ve worked closely with Geoff to build the strong reputation that we have and now look forward to getting stuck-in with our plans for future growth but we wouldn’t be doing it without the help of the Development Bank. From start to finish, they have been brilliant and I’m very grateful for their support, advice and reassurance throughout the process."
Shane Clee
Director at Forden Concrete Products
Investor perspective
"We are here to help businesses become established, grow and thrive. A core part of our remit is to support management teams who want to run their own business so we’re pleased to have been able to help Shane to become the new owner of Forden, particularly as it is a well-established business that employs local people. We wish the team every success."
James Ryan
Investment Executive, Development Bank of Wales
Investors
Categories
About the company
Forden Concrete Products
Forden Concrete Products manufactures precast concrete solutions for the agricultural and domestic markets.