Rubber Safety Hygiene’s managing director Rob Hand has become the sole owner of the Sheffield business, following a management buy-out, backed by HSBC.
Grimesthorpe-based Rubber Safety Hygiene was founded in 1990 and supplies businesses with products ranging from janitorial supplies and safety equipment, to rubber sheeting and industrial hoses.
The company also has depots in Scunthorpe and Sunderland. Prior to the MBO, Mr Hand held a nine per cent stake in the Hunsley Street business which employs 25 people and had sales of £4 million last year.
HSBC’s South Yorkshire Commercial Centre put up £400,000 to help buy the stakes of the other two shareholders and provide additional working capital.
Following the deal, led at HSBC by senior commercial manager Jo Dickinson, Mr Hand has made new appointments to bolster his management team and doubled the size of the company’s field sales force.
“As for our customers, it is business as usual.
“They will continue to receive the same high quality service,” said Mr Hand.
“The business has weathered the economic downturn successfully and we are now in a position for growth again.
“We particularly want to focus on the South Yorkshire area; we have been busy growing our national business but I have brought in an field sales team to drive sales more locally.”
“HSBC has been fantastic throughout this whole process.
“The team at HSBC took the time to understand the business and appreciate where I want to take it. That was important to me and I’m pleased to be starting this new relationship with the bank.”
HSBC South Yorkshire deputy area commercial director, Mark Tompkinson, said: “Rob Hand has significant business experience and delivered a clear and coherent vision of where he wants to take the company, which has already enjoyed strong success.
“These factors present a compelling case for investment and we were pleased to back Rob in this MBO.”
n Opinion: Page 8