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Sheffield-based law firm Knights has advised on the management buyout of local Industrial Cleaning company, IRATA Rope Access Grit Blasting, and Confined Space Entry & Rescue business, LRES-UK from its founders.
Established in 2012, LRES-UK has become a leading provider of industrial cleaning and site support services. The buyout will see ownership transferred from co-founders Lee Reynolds and David Reynolds to the existing leadership team of LRES-UK, led by Thomas Rowland (Managing Director), Lynsey Waller (Sales Director) and Patsy Wilson (Financial Director).
This strategic move reflects the management’s deep commitment to the long-term growth and success of LRES-UK, and positions the company for continued innovation, agility, and customer-focused service delivery.
Partner, Paul Trudgill and Senior Associate, Peter Turk from Knights advised the management team on the buyout. As part of a wider team of 1,350 legal professionals across the UK, the corporate team has significant experience in a diverse range of corporate transaction work including management buyouts, private equity as well as extensive experience in employee ownership trust transactions.
Paul Trudgill, Partner at Knights, said: “It’s been really rewarding being able to assist the management team of Tom, Lysney and Patsy to realise their ambition of assuming ownership of L-RES UK. Their enthusiasm and commitment to the business were clear throughout, and I have no doubt that they will take LRES-UK from strength to strength in the future.”
On behalf of LRES-UK, Tom Rowland said: “This is a defining moment for LRES-UK and a proud milestone for everyone involved in our journey. The successful completion of this Management Buy-Out represents far more than a change in ownership – it is a bold vote of confidence in our people, our clients, and the future we are building together.
“Since its founding in 2012, LRES-UK has grown into one of the UK’s leading specialists in industrial cleaning, rope access, and confined space safety – serving some of the most critical infrastructure sites in the country. That success has always been underpinned by a culture of hard work, innovation, and doing things the right way – values instilled by our founders, Lee and Dave Reynolds, to whom we owe a great deal.
“As the new leadership team – myself, Lynsey Waller, and Patsy Wilson – we are honoured to take the business forward. We are not outsiders stepping in; we are the people who have lived and breathed the work, the challenges, and the growth of LRES-UK. This MBO gives us the opportunity to fully invest – not just financially, but emotionally and strategically – in a company we care deeply about.”
