Sapphire Controls -Keith Reynolds and Robert Doe

Management Buy In

Corporate finance specialists, Watersheds are pleased to announce the management buy in and buy out (BIMBO) of Sapphire Controls, by Robert Doe and Keith Reynolds.

Sapphire Controls supplies the electrical distribution requirements of high profile customers such as the NHS, the BBC and Channel 4, as well as financial institutions including Barclays, Deutsche Bank, and RBS, to name just a few. Keith and Robert have extensive experience in electrical engineering and replace the company founder and outgoing CEO, Andrew Rackham, who is retiring after over thirty years at the helm.

Andrew Rackham stated that, “As the only member of the management team leaving the company, my objective was to leave it in capable hands to safeguard its long term future in Norwich. Many of the staff have been with the company for over twenty years and have a wealth of experience to offer the new owners. In Keith and Robert, we have found the perfect combination of experience and drive to guarantee the future of Sapphire Controls.”

Keith Reynolds, the new Chairman said: “I look forward to a long and prosperous association with Sapphire Controls, a very well run and managed company. The management and staff have been very welcoming and professional and I am excited to be working with such a class act. David Fletcher of Watersheds did a superb job bringing the opportunity forward and driving it to completion.”

Robert Doe, the new CEO, said: “I have been looking for an opportunity where I can utilise my engineering and finance skills, and Sapphire is the perfect company. I am grateful to Watersheds for proposing this very exciting opportunity”.

David Fletcher of Watersheds said: “I take great satisfaction in bringing together such well-matched parties. Sapphire Controls has two very capable directors joining the business for the long term, with a view to building on the success of the last thirty years and expanding it over time.”

The solicitors involved in the deal were John Keeble of DFA Law, Northampton and Paul Warman and Richard Turner of Leathes Prior, Norwich. Funding for the deal was provided by ThinCats, and Finance East is providing working capital funding post-completion.

Back to Deals

Get in touch

For more information call us on Northampton 01604 660511 or Swindon 01793 719788

For more information call us onNorthampton 01604 660511 or Swindon 01793 719788