News
Management buyout at Barrett Steel Buildings
Left to right: Stephen Griffiths of Lupton Fawcett; Will Arnold of McInnes Corporate Finance; John Brennan; Sue Sharples; David Newbould and Richard Beesley

The senior management at Barrett Steel Buildings have purchased the company for an undisclosed sum.
New majority shareholders John Brennan and Sue Sharples will act as joint Managing Directors with Ms Sharples retaining her responsibilities for the company’s finances.
Richard Beesley, previously Design Director, replaces John Brennan as Technical Director and David Newbould remains as Contracts Director.
Richard Nicholls has been promoted to the board in the role of Production Director.
Commenting on the buyout Ms Sharples, said: “The selling shareholders, who were also directors of Barrett Steel Ltd – the national steel stockholding group – were keen to transfer the business to the current management team and we are delighted to say we have their full support.”
John Brennan added: ”We remain optimistic that construction activity will continue to grow, boosted by work for the 2012 Olympics.”
Former major shareholder Richard Barrett becomes Non Executive Chairman of the Barrett Steel Buildings’ new holding company for a period of two years to aid the smooth transition of the business to its new ownership.
The management team was advised by teams from McInnes Corporate Finance, Lupton Fawcett and PKF. The deal was financed by the Bank of Scotland.
