Leisure firm is sold to management team

Lightmain Leisure, one of the UK’s leading designers and manufacturers of outdoor leisure equipment, has undergone a management buy-out with backing from Yorkshire Bank and Yorkshire Fund Managers.

The business, which is based in Wath-upon-Dearne, Rotherham, employs around 40 people producing and selling a range of products including all weather multi-use games areas (MUGA), skate parks, playground equipment, shelters and street furniture.

The business is part of Lightmain Company Limited, which was founded by Gary Beresforde in 1991 to design and manufacture steel structures for the engineering and construction sector but subsequently expanded to supply the outdoor sports and recreation market. The management buy-out sees managing director Trevor Lafferty and his team acquire a majority stake in the company.

Finance director, Chris Cussons, commented: “There is a great deal of work that needs to be carried out to achieve an MBO but with the help and support of the team from the Yorkshire Bank, this transaction was successfully completed with minimal interruption to normal business.”

The Yorkshire Bank team was led by Robert Norton from the Sheffield Financial Solutions Centre and Ross Lumsden from the Corporate & Structured Finance team in Leeds. They commented: “The buy-out will give control of the business to the management team and enable them to take it forward. The transaction allowed Yorkshire Bank to provide funding to an existing customer through a change of ownership and support a local transaction with local advisers.”

BHP Ingram Forrest Corporate Finance acted as lead advisor to the vendor.