Management buyout for LEEC
Article taken from the Nottingham Evening Post.
LEEC, in Colwick Industrial Estate, has been bought by a team led by Managing Director Paul Venners.
The company, founded in 1953, specialies in the design and manufacture of laboratory and mortuary equipment. Some of its products can be seen in popular television programmes such as Silent Witness.
LEEC was sold by the trustees of the late owner, Latvian-born Emils Gailis, who began a business in Goldsmith street repairing hospital beds.
Today, LEEC has a turnover of about £6m, employing 70 staff.
The new owners plan to grow sales up to £9m by seeking out overseas markets, particularly in third world countries.
The £4.4m venture capital-backed management buy-out of the market leader was funded by, Management, Octopus Ventures and Lloyds TSB.
LEEC provides a full solution to customers in the mortuary sector, including the NHS, Local Authorites, Universities and Funeral Directors. Services include consultation, design and manufacture, along with ongoing maintenance and servicing.
The laboratory division makes a range of incubators, safety, drying and humidity cabinets for the Healthcare, Life Sciences, Pharmaceutical Sectors and many others.
New laboratory products are constantly being developed. LEEC recently launched a CO2 incubator range, targeted primarily at the export market.