Case Studies

Longwood Joinery Ltd

Longwood Joinery Ltd, based at the Thorpe Arch Estate with 28 staff and a £1.8 million turnover, has been acquired in a management buy-out advised by York-based accountants and business advisers, JWPCreers.

The buy-out was initiated by three senior staff members with 95 years’ combined service: Peter Long, who started aged 22, and Andrew Humphries and Paul Shooter, who both joined as teenage apprentices.

The move is part of a planned succession strategy. They acquired the business, founded in 1972, for an undisclosed sum from its founders, Barry Long, brother of Peter Long, who retired four years ago, and Maurice King, who retired in March 2008.

Its clients include well known national house builders such as Persimmon Homes, Barratt Homes, Peter War Homes and local businesses including RJF Homes and Hogg the Builders.

Mr. Long said “Longwood Joinery Ltd has a good reputation and has seen a 20 per cent growth in staff numbers and turnover for several years. We are delighted to have acquired the business which has been part of our lives for so long. We had fantastic professional advice. We do not plan to change anything, but may accelerate our growth plans.”

Maurice King said: “We have always wanted to sell Longwood Joinery to the next generation rather than on the open market. Peter, Andy and Paul have made a major contribution to the business and it is fitting to have handed it down to them so they can reap the benefits of their hard work.”

To find out more about how we can help you, please contact JWPCreers LLP in Selby and York.

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