Malcolm Little, the former managing director of the business, has sold part of his shareholding for an undisclosed sum to sales director Tom Smith, who has taken on the position of managing director.
As the only two shareholders of the company, Little will now move to the role of executive chairman and will work alongside Smith to provide strategic advice as the business enters a new growth phase.
Advanced Dynamics was established in 2004 and has developed a range of filling, capping, and labelling machinery to support production lines across a variety of sectors. It works closely with customers to provide ongoing technical expertise, in addition to supplying machinery.
Employing 22 people from its Bradford head office and factory, the company has grown its turnover to £5.5m.
Little said: “Over the last 17 years, we have built up a business which is committed to putting customer care at the core of everything we do.
“From investing in expanding our premises and stock to creating a knowledgeable team able to meet even the most demanding specifications, we do all we can to be the most proactive and supportive business in the packaging industry.
“Having worked closely with Tom for more than five years, I am confident that he has the skills and ambition to drive the business forward as we continue to expand our range and move into new markets.
“He understands Advanced Dynamics and what our customers need, and has played a vital role in enabling us to exceed our target of growing turnover to £3m by 2020. I am looking forward to continuing to work with him in an advisory role as we target turnover growth to £10m over the next five years.”
Smith added: “Advanced Dynamics has established a strong reputation in the packaging sector; having started by supplying labelling machinery, we expanded into filling and capping lines as automation increased.
“Our second chapter of growth will see us further extending our portfolio of machines in order to provide turnkey solutions in response to customers’ needs for bigger and more extensive production lines. Having previously worked in many of these areas, I am excited to be taking the business into new markets with Malcolm at my side.”
Completed in late February, the MBO deal was supported by Yorkshire advisers that included a team from the Leeds office of accountancy and advisory firm Mazars led by Arran Smedley and Alex Baskeyfield. Sarah Harrison and Jonathan Simms from Clarion’s corporate team provided advice to the vendor.
Smedley said: “It is great to be able to support such a fast growing and positive business to fulfil its funding needs, allowing it to implement the next chapter in its growth story.
“We were able to secure a flexible funding package that suited the business and the shareholders, and I wish Tom and Malcolm all the best in what I am sure will be a successful next phase.”
