Responsive Engineering looks to expand

Responsive Engineering logo

assessor de Clearwater

comunicado de imprensa

North East-based Responsive Group, has undergone a Buy-In, Management Buy-Out (BIMBO) for an undisclosed sum, from Chris Thompson and his family. Thompson is a well known local entrepreneur.

Backed by the North East office of Lloyds TSB Commercial Finance (the asset-based lending arm of Lloyds TSB Bank), the BIMBO is being led by Paul Torday (MBI candidate), and the current group managing director, Peter Bernard. The BIMBO team were advised by Clearwater International.

Investment in the business will be the key focus going forward as the new owners believe that, with the resource and access to capital this opportunity brings, they can capitalise on a number of significant

With a £6 million aggregate turnover, Responsive is a group holding company with four strategic businesses; Weldex provides precision welding and precision fabrication and is highly experienced in the welding of exotic materials including titanium, duplex, inconel and hastelloy. The Responsive Group, whose customer base is very broad and diverse was created to give the four companies more focus and strategic direction and to allow them to take advantage of potential cross-selling opportunities and to undertake more contracts on a group-wide basis. Paul Torday will take on the role of executive chairman of the group, and Peter Bernard will continue as the group managing director. A number of other senior management across the group are also participating in the buy-out.

“We currently have a number of exciting opportunities in new markets and with major customers which will substantially develop and expand the business. We’re not looking to radically change the business, but we will largely be adding momentum, new capital and technologies. We are in the enviable position of being able to provide an ‘across the board’ capability in all forms of high precision cutting, forming and joining of metals. An emphasis is placed on metals and exotic materials which are hard to cut and difficult to join. This is all reinforced by strong project management, excellent on time delivery and high levels of quality assurance which are established trademarks of the business.”

Peter Bernard, Managing Director, Responsive

“We have been looking for investment opportunities with Paul Torday for some time, and Responsive ticked all the right boxes, especially in relation to the strength of the existing management team who were keen to undertake a buy-out.The business is in an excellent position to provide the combination of responsiveness and technical know-how to a number of new markets as well as serving the existing customer base.”

Michael Reeves, CEO, Clearwater International