Management Buyout for SMS

SMS – Smart Made Simple, is delighted to announce that Andrew Maddock, current Managing Director, and Craig Taylor, current Financial Director, are now the official owners of SMS – Smart Made Simple, effective from 01 March 2019.

Over the past 100 years, SMS – Smart Made Simple, has continued to evolve. Most recently, under the leadership of Andrew and Craig, the evolutionary journey continued as the business became known in the market as SMS – Smart Made Simple. But it’s not just a company name change, as Andrew and Craig have also transformed the operations to ensure that SMS acts as a local gateway to design, development and distribution resources across the entire supply chain. From concept to creation, to commercialisation, to the consumer and beyond.

Andrew Maddock commented; “SMS – Smart Made Simple, has become my home away from home, and my team has become my surrogate family.  This is the model that Craig and I want to continue to adopt, to embrace, and develop a ‘family’ business, one where everyone is connected to shared goals, and every decision is a smart one, aimed to make business engagement simple.

Over the past five years, we have continued on a path of growth and productivity gains.  Alongside a team of motivated employees and strong senior management support, we are in an exemplary place to build and nurture SMS – Smart Made Simple for the long term.”

As one of the largest regional manufacturers in the UK, supporting large and small brands, SMS helps manufacturers streamline supply chain touch-points, reduce risk and costs, improve responsiveness, maximise transparency and traceability, and accelerate entry to the market.

Former Chairman and Co-Founder of SMS Electronics, Mike Harby, made the following statement; “It has been my privilege to serve as SMS Electronics chairman for the past seven years. SMS Electronics has been well served by an excellent executive team, led by Andrew Maddock, and Craig Taylor, who have worked constructively with a strong and supportive board of directors. SMS Electronics has remained stable and secure throughout periods of uncertainty in the U.K. and we have worked hard to ensure that today it is a robust, well capitalised and profitable business.

I am truly delighted for our customers, employees, suppliers, and shareholders, that the company reigns will be passed onto Andrew and Craig, who have continuously added value to SMS Electronics with a combined service of over 50 years.  SMS Electronics is full of hard-working, talented individuals whose integrity and work ethic are second to none.

It goes without saying that SMS Electronics will continue to have my wholehearted support in the future.”

The management buy-out was supported by a finance package from HSBC UK.

Roger Pratt, East Midlands Corporate Banking Area Director, HSBC UK, said: “We’re delighted to have provided Andrew and Craig with the funding they needed for this management buy-out which ensures SMS – Smart Made Simple will continue to fly the flag for UK manufacturing in the East Midlands. Graham Brown, our Relationship Director who led the deal for HSBC UK, has worked closely with the business for the past two years so knows it inside out. We’re excited to support the growth aspirations of the new owners as the business begins a new chapter in its story.”