Vorenta Group MBO completed
Vorenta Group, provider of veterinary, compliance and owner of Meat and Livestock Commercial Services Ltd (MLCSL) has completed a management buyout (MBO) led by the company’s senior management team.
The acquisition was completed after the Competition and Markets Authority (CMA) raised concerns over the merger between Vorenta Group and Eville & Jones (E&J).
As of 28th April 2023, the management team, consisting of Penny Thorne (head of Finance), Diego Sprekelsen (head of Operations), and Patrick Steel (head of HR), officially took ownership of Vorenta Group, in its entirety including its subsidiaries HallMark Veterinary & Compliance Services (HallMark Meat Hygiene Ltd) and MLCSL.
The CMA approved the MBO, recognising that the team’s proposed plan for Vorenta would ensure that the business remains strong and will provide viable competition in the market, concerns that had been identified by the CMA. The MBO whilst providing financial stability, is reported to ensure continuity for staff and customers.
The MBO team has been involved in the management of the company for many years, and said it is committed to maintaining the same level of customer service for its customers.
“We are delighted to have completed this management buyout and are excited to lead Vorenta Group into the future,” said Patrick Steel, who has taken on the role of group managing director. “With the MBO behind us, the team are focused on the further development of the business, and look forward in the coming months to announcing exciting plans aimed at reinvigorating our efforts to deliver stakeholder value, particularly within our unique, MLCSL operation”
The management team also announced the appointment of Leigh Grant as the non-shareholding commercial director responsible for taking over some of the organisation’s commercial duties.