Chief Executive Officer (CEO) Vic Sinclair, Financial Director Charlie Parker, Operations Director Dave Weston; and Tubulars Director, Iain Laing have bought out the majority shareholder of the business as it aims to expand in the UK and USA.
The deal was carried out in partnership with industrial investor Rubicon Partners and principal investment firm Grovepoint.
Opportunities for growth in the business have been identified across its three divisions; metal recycling and reprocessing, decommissioning, and steel tubular services to the oil and gas, construction and utility sectors in the UK and USA.
With more than 20 years of experience in decommissioning projects, a key focus for the Group will continue to be the North Sea decommissioning sector which an estimated £17 billion will be spent over the next decade.
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In addition, the growth plans will continue to be supported by Environmental Director Ray Grant and all existing staff will remain to help grow the business.
CEO Vic Sinclair said: "The commitment of the senior management team has helped make John Lawrie the industry leader it is today. We enter this exciting new era as a financially strong and ambitious business backed by new investors who will help us drive further organic growth in both the UK and USA across all three of our divisions. We also intend to pursue new markets, including through acquisitions, in this partnership with Rubicon and Grovepoint."
Charlie Parker, Finance Director, who successfully led the transaction on behalf of the executive team, added: "John Lawrie is a business with a proud past and an exciting future. We are delighted to be partnering with new investors, who have an established pedigree of working with industrial sector enterprises, to drive new opportunities and value creation. We have a clear strategy for growth and that's good news for all our stakeholders."
Image: (L – R) Iain Laing, Vic Sinclair, Dave Weston (front), Ray Grant and Charlie Parker - John Lawrie Group management team.
(LM)
