We are pleased to announce that the trade and assets of Abacus Holdings Limited and Abacus Lighting Limited have been purchased by a leading group of Industrialists and Financiers.
The Business is being recapitalised with a multi-million pound investment and will also benefit from more flexible working capital facilities. The new owners bring additional financial and management expertise and experience and will take directorship roles in the business.
New Executive Management
Steve Lamb has been appointed as Managing Director and is a proven leader with extensive experience and a track record in delivering strategic and sustainable growth. He has a manufacturing and technology background and has held Chief Executive positions for over ten years.
In the last eight years he has held a number of Chairman and Non-Executive Director positions in international, restructuring and strategic growth roles.
Steve has taken over operational leadership of Abacus from Andrew Morris-Richardson who is no longer involved in the business.
Steve Banks has been appointed as Finance Director to supplement the existing Finance function. Steve is a Chartered Accountant and is from an accounting and corporate finance background with extensive experience in turnaround operations and management buy- ins.
Steve has taken over the financial leadership of the company from John Lawson who remains within the business.
For over 55 years Abacus has earned its reputation for providing innovative, creative and durable columns, masts and lighting systems across a wide variety of market sectors. Under the new ownership, Abacus will build on the core strengths of the business, with an increased customer focus and the resources to ensure that the innovation and quality which Abacus is known for continues to thrive.