MBO
Everything you need to know about our MBO
“I am delighted to share that the management buyout of Booth Welsh and iTech has now successfully taken place. Our journey over these past three decades has been fuelled by relationships in every aspect of the business and, on behalf of myself and the senior team, I would like to welcome you all “back” to a Booth Welsh that will continue to be driven by our commitment to engineering a better future through collaboration.
As of April 2023, the full business is now owned by myself and my senior team, and it is our vision to build a business that you will enjoy working with for many years to come.”
Martin Welsh
Managing Director
FAQs
Everything you need to know about our MBO should be answered in the FAQs below.
MBO stands for management buy-out and is a fairly common situation where the team running a business ends up owning it, usually by purchasing it from someone else. In this case, Martin Welsh, Managing Director of Booth Welsh and the leadership team have bought Booth Welsh and iTech from the administrators representing Australian former parent company Clough. The team had been working on the deal since late November and it was completed on April 2023.
Because we feel that the existing management team is best placed to lead the company to further growth and deliver continuity for staff and clients. This is the way we operated for many years prior to being owned by Clough. We’re looking forward to sharing more of our plans with you in the coming weeks.
We would hope only a positive impact! Many clients have told us they particularly appreciate the close relationships they enjoy with Booth Welsh staff as well as our culture and values. The truth is, we always enjoyed a high level of autonomy even under Clough’s ownership and this Management Buyout could be seen as a natural next step for us. It means the leadership team now have full control over the business and are invested in it, they have a plan to deliver better services for clients and will be able to respond more quickly to the changing markets and environments we all live and work in now
It’s business as usual. All terms and conditions remain unchanged. We are still working for the same company, with the same history and the same team running the business. The only difference is, those senior colleagues now own our business.
We’ll continue to enjoy a friendship with Clough and the wider global brands across the group, even though they’ll have no formal ties or influence over us. We still have a number of projects which we are working together on and in keeping with our Booth Welsh culture, we will do so in a respectful and collaborative way.
This MBO gives us the opportunity to smooth out our corporate structure so in time you’ll see some changes to the Companies House listings and corporate holding companies. These changes will have no impact but mean, for example we won’t need to file returns for dormant holding companies. This makes life a little easier for our accounts department and auditors. No-one is leaving or joining the business and no-one is changing roles.
We look forward to discussing all of this in more detail with you and we’ll give you as much information as we can. Contact us by whatever method you normally would – by speaking to our team verbally or, if you’d like to you can contact communications@boothwelsh.co.uk. We’d like to build out this page to make it a one stop shop for information so if we’ve missed anything, please get in touch and we’ll look to add your question and our answer here. Of course, we’ll treat anything you say in the strictest confidence.
Finally, we’d like to say thank you. Our staff and clients have been a tremendous support over these last few months. We wouldn’t have gotten here without your hard work and commitment. We look forward to the next stage of our journey together.