Avonside Roofing in MBO

Avonside Roofing has been bought out by its management. It was part of the Avonside Group, acquired three years ago by turn-around specialist Alchemy.
The latest move by Avonside Roofing, which has an annual turnover of £28m, follows hard on the heels of two other MBOs. Avonside Plumbing and Avonside Windows, both formerly in the same group, have also gained their own independence in recent months.
The Avonside Roofing MBO was led by managing director Tony Burke and finance director Keith Kershaw. Venture capital came from AIB Commercial Finance (Dublin).
The new company has 210 employees spread between headquarters in Sandbach and 15 regional offices. It provides roofing services to the UK housebuilding sector.
Burke said: "The demand for new housing in the UK outstrips supply by 20% and we anticipate strong orders into 2004 and beyond. The only real headache facing the sector is the shortage of skilled roofers."
Avonside Roofing's answer to this shortage is to run a large training programme. "As the UK's only independent nationwide roofing contractor, we have a serious duty to plan for the future," Burke said.
"Our recruitment policy is beginning to pay dividends and one-in-ten of our workers are now apprentices."