A Powys-based precast concrete company, Forden Concrete Products, is poised for significant growth following a successful management buyout.
Shane Clee has acquired the Welshpool-based business, with the transaction partially financed by a £45,000 loan from the Development Bank of Wales.
Management Buyout and Financial Support
The management buyout marks a pivotal moment for Forden Concrete Products. The company, which has been in operation since 1978, was purchased from its founder Geoffrey Jarman by Shane Clee.
The deal was partially funded by a £45,000 loan from the Development Bank of Wales, enabling a smooth transition in leadership and setting the stage for future growth.
Shane Clee’s Vision for the Future
Having joined the company in 2001, Shane Clee brings extensive experience and a deep understanding of the business. He is committed to continuing the legacy built by Geoffrey Jarman.
Clee stated, “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.”
His vision includes maintaining the high standards of quality and service that have defined Forden Concrete Products while exploring new markets and product lines.
Product Range and Industry Impact
Forden Concrete Products is renowned for its high-quality precast concrete items tailored for the dairy and agriculture sectors.
The company’s offerings include water troughs, feed troughs, slurry systems, portable cow stalls, gate posts, and cattle foot baths. These products are manufactured using quality materials and traditional techniques.
In addition to its existing range, Forden Concrete Products plans to diversify into new areas, including the introduction of concrete wall panels for both domestic and commercial garden applications.
Support from Development Bank of Wales
The Development Bank of Wales has played a crucial role in facilitating the buyout, providing essential financial backing.
James Ryan, an investment executive with the bank, remarked, “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.”
The £45,000 loan came from the bank’s £500m Wales Flexible Investment Fund, which offers a range of financial products including loans, mezzanine finance, and equity investments from £25,000 to £10m.
Employment and Community Impact
Forden Concrete Products not only contributes to the local economy but also provides employment opportunities in the Powys region.
As the company expands, it is expected to create more jobs, further benefiting the local community. This growth aligns with the company’s commitment to supporting the local workforce and economy.
The business employs a close-knit team and works with 24 agents across the UK, ensuring wide distribution and accessibility of its products.
Future Plans and Strategic Goals
Looking ahead, Forden Concrete Products is focused on implementing strategic initiatives to drive growth and innovation.
These initiatives include exploring new product lines and markets, enhancing operational efficiency, and leveraging advanced manufacturing techniques.
By staying true to its core values of quality and reliability, the company aims to strengthen its market position and achieve long-term success.
Reaction from Industry Experts
Industry experts have positively received the news of the management buyout and planned expansion.
The support from the Development Bank of Wales is seen as a vote of confidence in the company’s future prospects and its new leadership.
The management buyout of Forden Concrete Products heralds a new era of growth and innovation for the company.
With robust financial support and a clear vision, the company is well-positioned to expand its product range and market reach.
