More MBOs with Finance Wales backing
Investment from Finance Wales has led to more management buyouts (MBOs) in the country, safeguarding more than 1,000 jobs.
Finance Wales has backed 91 businesses with more than £29m of succession investment, which has enabled management teams to take over established companies.
Chris Griffiths, new investments fund manager at Finance Wales, said there has been a "significant" rise in these deals over the past year, which he said could "ensure continuity".
"An estimated one in five business owners in Wales have run their business for over 20 years and increasingly many are considering how to realise the value they’ve worked hard to build up over the years.
"This is good news for aspiring and ambitious Welsh entrepreneurs and management teams because there are more acquisition opportunities available to them."
Recent MBOs supported by Finance Wales include Teddington Engineering Solutions in Llanelli earlier this month. The deal came a decade after a previous MBO at the company, which was formed in 1927.
Griffiths added: "Passing the baton can be a great way of ensuring continuity in a business. If well managed, the current owner can benefit from years of hard work, while the new owner can inject new impetus into the company and create more value from their investment.
"Many Welsh managers who would like to own their own business are often unaware of the funding options open to them and we’re keen to help them understand how an investment from Finance can help them achieve their ambitions."