Saturday, June 6, 2020

Leicester’s Harrison Castings acquired after 108 years of family ownership

Keith Gilbert, Andrew Spiers and a cross-service team at Freeths LLP have advised the management team on the acquisition of Harrison Castings.

Harrison Castings is the largest aluminium sand foundry in the UK, employing 95 staff and producing over 1,500 tonnes of castings each year. After 108 years of family ownership, Mick Jenney and his co-directors Carly Kicks, Adrian Burton and Lee Webster have led a management buyout of the company.

Mick Jenney said: “All parties see this as a great opportunity for Harrison Castings to maintain its position as one of the leading aluminium sand foundries in the UK. The company has invested heavily in recent years and we are delighted that this next step will enable the company to have a bright future, continuing to supply precision engineered components to all its valued customers in the UK and around the world.”

Welcoming the change of ownership, Robert Harrison said: “Our customers will know that Mick and his team have been successfully running the business for a number of years and with no future family involvement on the horizon we viewed this as the best possible outcome for the future of the business, our customers and employees.” Peter Harrison concurred: “We would like to take this opportunity to thank all of our customers and suppliers who have supported our business over many years. We wish Mick and the other directors continued success.”

Keith Gilbert, corporate partner at Freeths, said: “We were delighted to work alongside Mick, Carly, Adrian and Lee. We congratulate Robert and Peter Harrison and look forward to seeing Harrison Castings continue to thrive under the management team.”

Mick added: “The management team knew that we needed to have the right advice and support to enable the buyout to run smoothly, picking the legal team to represent us was top of our agenda. From our first meeting with Keith and Andrew it quickly became apparent that Freeths were that team. Throughout the process the help and advice we received was first class and the work carried out by Keith and Andrew and the rest of their team was excellent, we can’t thank them enough.”

The management buy-out of the respected Leicester headquartered business was supported by lawyers all based in the City of Leicester; as well as the Freeths team who advised management, Knights plc advised the Harrison family and Howes Percival LLP advised HSBC UK Bank plc.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.






Latest news

Union hits out at East Midlands aerospace parts firm as 420 redundancies planned

Aerospace parts firm SPS Technologies "must not exploit the lockdown" to slash jobs and terms and conditions at its sites in Nottingham, Leicester and...

Streets focus on job and employment schemes in latest business update

Streets Chartered Accountants provide details of changes to Coronavirus Job Retention Scheme including the introduction of flexible furlough in its latest business support update. As...

3 business tips for saving money during Coronavirus

Coronavirus has changed every business in the world. Whether you’ve been made to work remotely, put your staff on furlough, or redirected your resources into...

New ownership for Market Harborough ventilation, maintenance & hygiene company

System Hygienics, formerly the service arm of the Hotchkiss group - the largest duct manufacturer and installer in the UK – have new ownership,...

Construction of Kirkby’s new Leisure Destination takes a step closer

Plans to bring a new state-of-the-art leisure centre to Kirkby in Ashfield have taken another step forward. Ashfield District Council is seeking tenders from contractors...

Related news

Shared office spaces cautiously reopen

Many of the UK’s network of 5,000 shared office spaces are tentatively re-opening this month as more businesses return to the workplace as the...

Union hits out at East Midlands aerospace parts firm as 420 redundancies planned

Aerospace parts firm SPS Technologies "must not exploit the lockdown" to slash jobs and terms and conditions at its sites in Nottingham, Leicester and...

Streets focus on job and employment schemes in latest business update

Streets Chartered Accountants provide details of changes to Coronavirus Job Retention Scheme including the introduction of flexible furlough in its latest business support update. As...

3 business tips for saving money during Coronavirus

Coronavirus has changed every business in the world. Whether you’ve been made to work remotely, put your staff on furlough, or redirected your resources into...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close