County Durham infection control specialist set to scale up following MBO
A County Durham infection control business has undergone a management buyout in a bid to grow the business.
Managing director Laura Edgar has taken total ownership of Barnard Castle-based Aura Infection Control.
Laura joined the Scaleup North East programme to obtain the structured support of business specialists to help grow the business in a sustainable manner over the next three to five years.
Scaleup Partner Jon Symonds explained: “When I met Laura, it was evident that the ownership was a critical area that needed addressing for her to progress her ambition.
“I always believed the MBO was possible, but I brought in experts, to do the valuation, feasibility and all the legal support; the results gave Laura the confidence it could be done.
“Laura used her own accountants to raise the funds and other requirements to complete. Aura is primed for scale and with Laura at the helm, there are some exciting plans for the future of this amazing business.”
Advising Laura Edgar on the MBO was Newcastle-based RG Corporate Finance (RGCF) led by partner and head of corporate Ffnance, Carl Swansbury, CF partner Nick Johnson and CF executive, Tom Cosby. John Nicholson, corporate partner at Mincoffs Solicitors also advised on the deal, assisted by solicitor Daniel Bell.
Carl Swansbury from RGCF commented: “Aura is a great example of a well-established, privately owned business, which continues to evolve and develop its strategy to meet the requirements of the ever-changing market.
“The MBO will enable Laura Edgar to take the business forward as MD, along with the support of the existing management team and to scale the business over the coming years.”
John Nicholson added: “It was a pleasure to work with Laura on the buyout. The transaction leaves Aura well placed to move its business forward and I wish Laura and the rest of the management team all the best for the future.”
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