Two directors of fire seals manufacturer Lorient Polyproducts have completed a management buyout (MBO) of the group’s US operation.
Paul Chudley, technical services director at Lorient’s Newton Abbott manufacturing arm, and his US colleague Kristy Jones, who runs the company’s North American operation in Kentucky, completed the MBO for an undisclosed sum.
Established in Surrey in 1979, subsequently relocating to Devon, Lorient designs and manufactures acoustic, smoke and fire sealing systems, with operations around the world. Lorient North America supplies products direct to door manufacturers in the US, as well as through two private label accounts.
Commenting on the deal, Mr Chudley said the aim was to “continue to operate the same values upon which the business has been built”.
