Posted on: 10th Dec 2019
Andusia in Management Buy-In
After almost 8 years of successful trading, Andusia are looking to the next phase of growth and have entered into a management buy-in (MBI) arrangement with the existing Management team.
The buy in will enable Andusia to implement a new wider staff ownership structure, offering shares (Enterprise Management Incentives, or EMIs) to staff and as such, a minority stake in the company.
The MBI and staff shares scheme is all part of a medium term strategy for the future success of the business and will see the roles of the two Shareholder/Directors change in line with this strategy. Firstly Steve Burton will take on the specific role of Managing Director and will head the company as it develops forward over the coming years and Stewart Brackenbury will take on the role as Chairman and will accelerate the succession planning for his current responsibilities to take on new employees whilst he moves into an ambassadorial role to help shape the direction of the business.
Stewart Brackenbury said of the buy-in “The development of the next phase of trading dictates a need for us to bring in new younger managers so that the business is sound and expanding going forward.”
Looking forward to 2020 and beyond, in addition to Andusia’s successful RDF export business, increasing SRF export numbers and new hazardous waste contracts, the company has its eyes firmly focused on what will happen domestically. Andusia are committed to supporting new UK infrastructure and are in discussions with numerous UK developers regarding possible EfW facilities in various stages of development.
“The MBI is just the next step in the evolution of Andusia. We are delighted that we can now allow our hard working team to share in the growing success of the business. Our plans for the next few years will focus heavily on the UK market whilst continuing our significant and growing export businesses and we are looking forward to entering into 2020 with some exciting developments afoot” ended Steve Burton.