Vehicle conversion business, Convert Your Van Ltd, has been acquired by its manager and has relocated to new premises in Rotherham.
Husband and wife entrepreneurs Katrina and Scott Muldoon founded the business, which provides custom camper van conversions, as well as manufacturing and selling flat packed DIY camper van fit out furniture and products, and have now sold it to manager Daniel Staniland.
Staniland aims to grow and diversify the company from the lifestyle business the Muldoons had intended and after the pair's plans to exit the business were announced, Daniel assembled a buyout team consisting of Lisa Pogson, Mark Staniland and Julie Robinson and, with advice from Neil Large of Lupton Fawcett, concluded the deal in three weeks.
The newly acquired business has relocated to new premises at Redwood Court in Dinnington, with assistance from Andrew Nettleton at the Rotherham Investment and Development Office (RiDO).
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As well as retaining the three existing employees, further jobs are also being created, with the immediate need for an extra member of staff.
The business has also received a cash injection to provide a funding line for expansion into new markets in the UK, while also targeting overseas markets, in particular Europe.
Daniel Staniland, manager at Convert Your Van (pictured front, right), said: "Having worked in the business for the last couple of years, I could see the huge potential for Scott and Katrina's business. What set out as a hobby was quickly turning into a full time business for them, so they asked if I wanted to take it on so they could concentrate on other new and existing business interests.
"I had no hesitation in grabbing the opportunity with both hands and I would like to thank my fellow investors, as well as Neil Large from Lupton Fawcett, for acting so quickly to enable the deal to conclude in just three weeks.
"There is untapped potential for Convert for Van and I am looking forward to building on the bedrock of success provided by Scott and Katrina."
Neil Large, corporate partner at Lupton Fawcett (pictured, front, left), added: "It was a pleasure to work with the four-person buyout team who are all highly focused and know exactly where they want to drive the business. There is a lot of consolidation in the market so these will be exciting times for the business under its new ownership.
"Daniel, who will be leading the operation, has a real passion for the business and a clear vision for its expansion and development. With the wider support from the whole buyout team at the strategic, financial and operational levels, I have no doubt revenues will increase quickly."
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