Lawyers at Wake Smith have advised on a management buy out (MBO) at a Sheffield industrial cleaning specialist.
LRES-UK, specialists in industrial cleaning, IRATA rope access grit blasting and confined space entry and rescue, was established in 2012, growing to become a leading provider of industrial cleaning and site support services.
The buy-out, led by managing director Thomas Rowland, sales director Lynsey Waller and financial director Patsy Wilson transfers ownership from co-founders Lee Reynolds and David Reynolds to the existing leadership team.
This strategic move reflects the management’s deep commitment to the long-term growth and success of LRES-UK, and positions the company for continued innovation, agility, and customer-focused service delivery.
Under its new ownership structure, LRES-UK will continue to operate under the same name and maintain its commitment to excellence, integrity, and innovation.
Wake Smith’s corporate director Rebecca Robinson advised the founders on legal aspects of the MBO, which was supported by Lloyds, who provided increased facilities to fund future growth. The management team was advised by Andy Ryder and Connor Marshall from Shorts and Paul Trudgill and Peter Turk from Knights.
Established in 2012, the company has grown to become a leading provider of industrial cleaning and site support services, and this milestone marks a new chapter in its continued evolution and commitment to excellence.
On behalf of the Management team, Tom Rowland said: “This is a defining moment for LRES-UK and a proud milestone for everyone involved in our journey. The successful completion represents far more than a change in ownership – it is a bold vote of confidence in our people, our clients, and the future we are building together.
“We serve some of the most critical infrastructure sites in the country and our success has always been underpinned by a culture of hard work, innovation, and doing things the right way, values instilled by our founders, Lee and Dave Reynolds, to whom we owe a great deal. Their trust and support throughout this transition have been instrumental, and we thank them sincerely.
“As the new leadership team, myself, Lynsey Waller and Patsy Wilson are honoured to take the business forward. We are not outsiders stepping in, we are the people who have lived and breathed the work, the challenges, and the growth of LRES-UK. This MBO gives us the opportunity to fully invest, not just financially, but emotionally and strategically, in a company we care deeply about.
“A sincere thank you goes to Wake Smith Solicitors, especially Rebecca Robinson, who acted for the sellers. Their collaborative and constructive approach helped ensure a smooth and respectful transaction, and their professionalism was greatly appreciated by all parties involved.”
For further information on MBOs please contact Rebecca Robinson at Wake Smith Solicitors on 0114 224 2007 or email [email protected]