Founded in 1890, the company specialises in CNC machining, sheet metal, fabrication and welding for a wide range of applications but is perhaps best known as the designer and manufacturer of the Lister Jaguar. Produced in the 1950’s Lister Jaguars have since won hundreds of historic races and are still famed for their reliability and craftsmanship.
The deal has taken place with the retirement of Managing Director Martin Murray after 50 years’ service. The company ethos has always been to try and promote from within, both Mark Hallam & Mark Pauley having been with the company since they left school in 1985 have progressed through the company into management and then to Directors.
Commenting on the deal, Martin Murray said “After 50 years with the company I feel it is the right time to step aside and take my retirement knowing the Company is in the very capable hands of Mark Pauley & Mark Hallam. Both Mark Pauley & Mark Hallam served their apprenticeships with the Company and are now joint owners. I would like to wish the Marks’s all the very best for their future and know the Company will go from strength to strength.”
Mark Hallam said “I’m excited about the future and the challenges ahead, our commitment is to ensure stability and job security for all involved and to move the company forward. The future is bright for this long and established Company.”
Mark Pauley said “having been with the company since leaving school this was an opportunity that we had been looking forward to, it is both our aims for the company to move forward and prosper over the coming years.”
George Lister has been a client of Cambridge accountants, PEM, for over 25 years. PEM’s corporate finance division, PEM Corporate Finance, supported the directors throughout the buyout process.
Stephen Peak of PEM Corporate Finance said: “We are delighted to support the directors in bringing this deal to a successful conclusion. This deal allows George Lister Engineering to move into the next phase of its life and ensures the new management team can continue to develop and grow the business. We wish the business and team every success for the future.”
Legal advice was provided by Philip Speer of Thomson Webb & Corfield.