The completion of a management buyout (MBO) at Morley-based Elm Building Services has been supported by a £1m investment from Finance Yorkshire. Elm, an established provider of mechanical and electrical services to various industries, including commercial and leisure, has seen steady growth under the leadership of founder Neil Munday. With a projected turnover of £15-17m over the next three to five years, the MBO will see Neil’s senior colleagues John Newton and Ian Walker take on the business, with a focus on expansion in the fields of solar power and low carbon solutions.
Finance Yorkshire’s £1m investment from its Growth Fund is aimed at supporting the MBO and the company’s evolution into a £15-17m business over the next three to five years. According to Neil, “Its investment will support us to bring in new customers and grow further.” Finance Yorkshire chief exec Alex McWhirter added that “The MBO at Elm is the type of investment Finance Yorkshire is keen to support to ensure the retention of companies and jobs in the Yorkshire and Humber region.”