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| Endless backs buyout of DavyMarkham  Endless LLP, the Yorkshire-based buyout and turnaround fund, has backed a management buyout of the heavy engineering business DavyMarkham Ltd. The investment will underpin the company's turnaround and enable DavyMarkham to re-establish itself as a world-leading brand in the heavy engineering market. Endless has supported Kevin Parkin and Duncan Hay, who have been acting as interim Managing Director and interim Financial Director respectively and who now take permanent positions on the Board.In recent years the combined group has supplied large infrastructure products to prestigious projects such as the Thames Barrier, the Channel Tunnel, the Millennium Bridge and Heathrow's Terminal Five. Davy and Markham have a strong history in the South Yorkshire area, with both companies originating in the 1830s. They came together in a merger in 1997. DavyMarkham now benefits from a worldwide customer base, working closely with its neighbours Sheffield Forgemasters and Siemens VAI to ensure Sheffield remains at the centre of global heavy engineering expertise. The £14 million-turnover company employs 170 people in Sheffield and there are plans both to recruit more employees and launch an apprenticeship scheme to protect and develop skill levels for the future of the business and the region. Endless is in the early stages of plans to complement its investment, injecting additional funding into the DavyMarkham site by developing a new industrial park, a further boost to the Sheffield area. Caption: (left-right) Kevin Parkin, MD DavyMarkham, Chris Clegg, Investment Director Endless LLP, Don Gray, Director Ingram Forrest Corporate Finance, Duncan Hay, Finance Director DavyMarkham. write your comments about the article :: © 2007 Construction News :: home page |