A management buyout (mbo) of ABB Building Systems (UK) from the ABB Group was completed on 31 December 2003. The resulting m&e contracting firm has been named Inviron.
The mbo involved the UK business in its entirety. All former ABB staff and ongoing project work have automatically transferred to Inviron.

Inviron will be headed by md Garry Metcalfe and directors Keith Gilliver and John Ryan O'Brien, who led the mbo and are the sole current shareholders. The firm will be entirely staff-owned, with share options being extended to all staff during 2004.

A limited company, Inviron has net assets of £5 million and no bank debt. Working capital has been secured with Lloyds TSB to support growth. A turnover of £100 million is expected in the first year.

The firm has four divisions: building systems, facilities management and service, climate systems and marine systems. It will be entirely UK based. The building systems division will account for around 50-55% of the business.

The mbo results from the announcement in April 2002 by the ABB Group of the divestment of its £2.5 billion global building services business. The individual sale of the Nordic companies removed the global emphasis.

m Inviron md Garry Metcalfe is profiled on pages 20-21.

Source

Electrical and Mechanical Contractor