UK: Air management company Mansfield Pollard has been the subject of a management buy-out for the second time in 10 years.
Lou Frankland, who joined the company in 2017 as sales director and Bryan Bentley, who joined the company in May last year as operations director, have purchased the business from sole shareholder and chairman Alan Pollard.
Under the new structure, Lou Frankland becomes managing director replacing Joanna Robinson who left the company at the end of 2019.
The departure of Alan Pollard breaks the family bond with the company that has existed for almost 100 years. Pollard led the previous buy-out in 2011 from his brother, and joint managing director, Barry Pollard. The business was previously run by their father Gordon, who retired in 1993.
New MD Lou Frankland described the latest buy-out as “fantastic news for both customers and staff”.
“The opportunity afforded by the MBO will further increase our ability to develop and retain industry-leading talent, further invest into the performance driven product offering to our customers and ultimately achieve our goal of being recognised as the UK’s leading air management company,” she said.
Looking back, outgoing chairman Alan Pollard said: “I have seen the company grow and develop with such vigour and pace over the last three years that I feel now is the ideal time to hand over the reins to Lou and Bryan.”