THE chief executive of Warrington-based Claremont Group Interiors has led the £1m purchase of an office furniture manufacturer in Middlesex.
Mike Gardner headed the buy-in management buy-out (BIMBO) of Hounslow-based Logic Office Group. His consortium will have a 60% stake and the current management team will take the remaining 40%.
Logic Office was a subsidiary of Alternative Investment Market-listed parent Black Arrow Group, and will now trade privately as a new company.
It employs 60 staff across its sites in Hounslow, Sevenoaks and Rotherham, and the management said there are no plans for redundancies following the ownership change.
Mr Gardner has built up Claremont Group Interiors from a £2m to a £25m-a-year company since he was part of a BIMBO in 1996.
He was invited to be part of the Logic Office management team by its retiring founder, Arnold Edward.
Mr Gardner said: “I want to use the knowledge I have accumulated in building Claremont Group Interiors to progress the development and expansion of Logic Office.
“I have a track record of spotting the potential of a business and growing it, and am very confident of being able to repeat that success with this opportunity.
“This is a deal designed to bring positive change to Logic Office, and I will be working with the management team to grow the business.”
Paul Edward and Simon Watts will remain as directors of Logic Office’s furniture division, based in Hounslow; Charles Gee will continue to lead the contracts operation, at Sevenoaks; and Tony Cole will remain as factory director of Kudos, the manufacturing arm at Rotherham.
Mr Gardner confirmed that the deal was not a takeover of Logic Office by Claremont Group Interiors.
Mr Gardner said: “While I remain absolutely committed to Claremont and will continue as managing director, we have built a strong management team and I have every confidence in the people who manage Claremont on a daily basis.
“I do believe in empowering my management team, and working with them to build a successful business has brought significant benefits and I hope to replicate this approach with Logic Office.”
Claremont have been involved in several major projects in Liverpool, including the refurbishment of the Royal Liver Building and the fit-out at the Port of Liverpool building.
