13.06.2007

MBO at Outreach

The ownership of Outreach, the Palfinger distributor for Scotland which is also an IPAF and ALLMI training centre has been acquired by its two senior managers.

The new owners are Gary Potts, previously managing director of sales and marketing and Derek Payne previously operations director. The two have agreed to purchase the business from former directors and principal shareholders, Wilson Paton and Charles Johnston.

Potts and Payne become joint managing directors, responsible for sales and marketing and operations, respectively.
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Gary Potts and Derek Payne in an Outreach lift

Potts, 41, joined Outreach in 1997 as a sales engineer, becoming sales and marketing director five years ago. Payne, 40 joined Outreach in 1995 and, after a time in technical services, took over responsibility for the control and development of products for the Oil and Gas Industry. After a spell as production manager, he was appointed as operations director in 2001.

Former chairman and managing director, Paton said, "When Outreach was formed during 1990, my hope was that, at the right time, the business might appeal sufficiently to younger directors that they would want to own it".

"Both Charles Johnston and I are delighted that Gary Potts and Derek Payne have decided to buy the company at this time. It is important that our employees can look forward with confidence to a bright future under the leadership of young, capable and highly motivated management".

Outreach employs around 50 at its base in Falkirk, and had revenues of over £6 million in the year to April 2007. The company expects to reach around £10 million in the current year. With a forward order book of £11 million this looks to be a certainty.
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Gary Potts and Derek Payne

The company, which sells transport equipment, truck loader cranes and access platforms emerged from the engineering division of James Jones & Sons in 1990. It has been the importer for Palfinger knuckle-boom cranes, loaders and related products for over 30 years.