Bradford-based catering equipment specialists, Airedale Group, has received backing from Rubicon Partners, an investment partnership focused on the acquisition and long-term strategic development of complex industrial businesses in Europe and North America.
A team led by Martin Sweeney advised Airedale Group on the new investment, which will support the next phase of its growth.
The management team, led by chief executive and main shareholder Rob Bywell, and Rubicon Partners have acquired all shares of the Airedale Group. As a result, several minority shareholders, including Rockpool Investments, have sold their stake in the business.
Since completing a management buyout (MBO) in 2013, the installation and servicing of catering equipment specialist Airedale, has increased revenues by more than 300 per cent and expanded its operations across the UK. It now employs more than 300 staff.
“This is a significant and exciting step forward for the group. Over the last seven years, with support from Rockpool, Airedale has solidified its position as the leading kitchen design and installation business in the UK, whilst simultaneously building a truly national commercial kitchen maintenance platform. For our next phase, we have been looking for a partner with both industry experience and the financial capacity to help us grow to the next level in terms of service offering (both product and technology). We also wanted a partner that could assist the group in internationalising this service proposition. Rubicon is an ideal fit with a proven pedigree and a history of success in supporting businesses to reach their full potential.” Airedale Group chief executive Rob Bywell
“This is another significant step for Airedale, and we are delighted to have been able to offer them support from our corporate, commercial property and employment teams. We’ve worked closely with the team for a number of years now; the continued success and growth of the company is a testament to the strength and ambition of the management team. We wish both Airedale Group and Rubicon Partners all the very best.” Martin Sweeney, Managing Partner
Airedale Group was advised by Martin Sweeney, Jessica Fielden and Alexander Aitken from corporate. They also received commercial property advice from Oliver Brooke and employment law advice from Simon Shepherd.
We wish the Airedale Group all the very best.
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