Financial Adviser to the management team:












Debt Finance provider:







Weldlag (Preston) Ltd has undergone a buy in / management buyout (BIMBO) led by Managing Director Rob Ainsworth and supported by Jackson Stephen LLP Corporate Finance and The Royal Bank of Scotland (“RBS”).

The deal sees a new management team of Rob Ainsworth and Jeremy Eastham acquire the Preston-based asbestos removal business which was established in 1981.

Rob, who has worked for Weldag since 2001, is joined by Jeremy who has over 20 years financial and commercial management experience with companies in the service, manufacturing and engineering sectors. The business also retains the services of Director of Asbestos Operations, Ron Fearnely along with all administration and operational staff with combined experience within the industry in excess of 120 years.

Weldlag specialises in licensed asbestos removal, encapsulation and surveying for clients regionally and nationwide. The company is HSE licensed and permitted to undertake all areas of work involving asbestos containing materials. Customers include public authorities, HM Government departments, health and education authorities, licensed retailers and breweries and many general contracting and demolition companies.  Weldlag also has security clearance to carry out works on Ministry of Defence sites, HM Prisons, BNFL nuclear installations and hospitals.

Rob Ainsworth, Managing Director of Weldlag Environmental, said:
“Jeremy and I are delighted to have acquired the business and look forward to working with all of our employees to take the business forward.  The important consideration for our staff and customers is continuity and the terms of the agreement provide us with that stability.”

Jackson Stephen’s Corporate Finance Partner Steven Gordon and Manager Bill Tannahill advised the management team, with tax advice being provided by partner Andrew Tipping.  The Commercial Banking division of RBS and RBS Invoice Finance in Preston provided funding for the deal.

Steven Gordon, Corporate Finance Partner at Jackson Stephen comments:
“We are delighted to have advised Rob and Jeremy in successfully completing the acquisition of the business.  This is a company that has already demonstrated strong growth and with new additional financial and managerial support is set to enhance its position in a growing market.  Jackson Stephen are now looking forward to a long ongoing relationship with the company through the provision of financial, tax, accounting and strategic corporate finance advice”.

Oliver Burton, Associate Director at RBS said:
“Weldlag is a proven player in what is a niche and highly regulated sector.  We are delighted to be able to provide the local expertise necessary to support the management in what is clearly an exciting opportunity.”