The management team at Protim Services Ltd is celebrating successfully buying the business from its parent company Phoenix Timber Group, securing 120 jobs. The management buy-out (MBO) team turned to ex-Protim employee David Avery at the Richmond office of Lloyds TSB Commercial Finance Limited to help finance the undisclosed deal via an invoice discounting facility.
L - R: Petrina Hodge, Financial Director, Protim Services, David Avery, Regional Manager, Lloyds TSB Commercial Finance, David Marshall, Managing Director, Protim Services
The business was established in 1928 and provides treatment against wood rot, woodworm and dampness in buildings throughout England and Wales, operating from its nine offices.
