The ownership of ventilaton specialist Mansfield Pollard has been transferred to four of its directors following a management buy out worth several million pounds.
The new owners of the Bradford-based company include production director Bob Hill; financial director Joanna Robinson and technical and sales director, Martin Brown, who have 46 years combined service at the company.
Former joint managing director Alan Pollard has also increased his shareholding.
The business was founded by John Mansfield in 1866 as a sheet metal processing company serving West Yorkshire’s textile industry.
It was purchased in a deal supported by Yorkshire Bank’s Leeds Financial Solutions Centre from joint managing director Barry Pollard, who owned the company with his brother Alan.
The business was previously run by their father Gordon Pollard who retired in 1993.
Barry Pollard has retired from the company after 42 years and will now concentrate on helping to develop its sister business, Manchester-based clean-air specialist, UVGI Systems, which manufactures and supplies products to prevent, and dispose of, air-borne infections in public places, particularly hospitals.
Finance director, Joanna Robinson, says: “Mansfield Pollard has grown and constantly modernised into a significant manufacturing business and local employer.
“Barry and Alan Pollard, and their father before them, have done a fantastic job in developing the company and investing to keep pace with modern manufacturing techniques.
“We three new owners are grateful to be able to acquire shares in the company with Barry’s retirement and join Alan as co-owners.
“We have plans to expand the company’s areas of specialist expertise with several new products, the first of which will be a range of packaged AHU heat pumps this year.”
Mansfield Pollard has 145 staff and a £12m turnover, with seven product divisions it manufactures ventilation and air conditioning systems, acoustic and vibration controls, air handling and kitchen ventilation units, fire-rated duct work and packaged automated control systems.