Business & Economy
Impress Group keen to engineer fresh growth after buyout
September 7, 2023
A precision engineer has pledged to make “significant investment across the board” following a management buyout.
Impress Group says it will invest in technology, training and recruitment under new managing director Jason Young.
The ex-commercial director has taken over from retiring bosses George Peel, Steven Young and David Haley at the 110-plus staff Blaydon and Washington-based business.
And he has revealed plans to take it to new heights.
Jason said: “We have identified a number of growth areas.
“The precision engineering market is rapidly evolving with new technologies emerging, and we want to continue to be at the forefront of such.
“We are also investing in improving our processes and internal systems, and will be concentrating on our people through investment in training and development.
“And we are keen to bring in people to maximise our capacity,” said Jason, who has been backed by Lucena Capital founder Ben Suquet and will have the support of George and Steven across the next two years.
He added: “George and Steve’s love for this business and industry is fantastic, and they’ve built a great team that shares the same ethos.
“This is an exciting time for the business.”
The deal was supported by WilliamsAli Corporate Finance, with managing director Abu Ali and Tristan Woolcock leading on the agreement.
Abu said: “Under Jason’s leadership, the business is ideally placed for further growth.
“Working together, Jason and Ben – supported by Steve and George for the immediate future – have an excellent opportunity to really take Impress Group to the next level.”
Jason was advised by Mincoffs Solicitors’ John Nicholson and Max Gilchrist.
Corporate partner John added: “We are sure Impress will continue to prosper under the new management structure.”
- Pictured, above, from left to right, are Steve Young, Impress Group director; Abu Ali, WilliamsAli managing director; John Nicholson, Mincoffs Solicitors’ corporate partner; Max Gilchrist, of Mincoffs Solicitors; Ben Suquet, founder of Lucena Capital; Jason Young, Impress Group managing director; and George Peel, Impress Group director