Management by Objectives (MBO) Implementation at a Well-Established Blade Making Company

In a significant development for the manufacturing industry, Featherstone-based Dakin-Flathers, the world’s largest carbon bandsaw and bandknife blade manufacturer, has recently undergone a management buyout. The buyout was supported by Park Place, Clarion, and BHP, marking a new chapter for the 90-year-old privately-owned business.

Founded in 1931, Dakin-Flathers supplies blades for a wide range of industries, including furniture production, engineering, food processing, foam production, and timber processing. With a workforce of 65 and a turnover of £12m, the company has experienced significant growth in recent years, expanding its reach to clients in over 100 countries.

The management buyout will play a crucial role in the firm’s future success, as the new leadership team aims to capitalize on the positive growth trends in the manufacturing sector. While Oliver Garside has stepped down as managing director and owner, he will continue to be a shareholder in the business, offering guidance to the new management team.

The new owners, Carl Jukes, Lee Barker, Paul Greenley, and Stuart Dykes, bring a wealth of experience to their roles, with over 30 years of combined experience at Dakin-Flathers. The MBO was the result of a long-term succession planning strategy, developed with the support of Park Place.

Excited about the future, Carl Jukes stated, “We’re excited by the opportunities which lie ahead. This change brings a fresh wave of innovation and drive for success. Building upon strong foundations, we’re set for an exciting journey to elevate our business to the next level.”

The advisory team, led by Tim Simpson and Hector Simpson from Park Place, along with experts from Clarion and BHP, played a crucial role in facilitating the successful management buyout. The future looks bright for Dakin-Flathers as they embark on this new chapter under the leadership of the new management team.