A WISHAW-based asbestos removal business has changed hands in a management buyout backed by UK Steel Enterprise (UKSE).
Managing director Robert Stevenson has led the buyout of Specialist Building & Asbestos Services (SB&AS) with the support of a “six- figure” loan and equity funding package. The previous owners are retiring.
SB&AS, which serves local authorities, construction companies, the rail infrastructure sector and educational institutions, is one of only 12 licensed asbestos removal companies in Scotland.
Mr Stevenson declared his ambition to grow the surveying services of the business in line with new regulations governing the regeneration of contaminated land.
He said: “Because the asbestos sector runs on very strict licensing regulations, it made sense to take over an already registered, experienced and well-respected business, rather than set one up from scratch.
“My background is in the analytical side of both the geotechnical and contaminated land fields, so we expect this to be a growth sector for the business working across Scotland and the UK. Working with UKSE has been superb. From the beginning, their knowledge and business advice has been excellent and being able to secure vital funding meant the deal went as smoothly as possible. They have been fundamental to the buyout and we look forward to our continuing relationship.”
UKSE, a subsidiary of Tata Steel, was set up to support growing companies in traditional steel-making areas such as Lanarkshire.
Regional executive Scott Webb said: “SB & AS is a solid business with an excellent reputation in the asbestos removal sector. The MBO will allow Robert to put his plans in place, focussing on additional recruitment and business growth.”
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