One of the UK’s leading motorway crash barrier contractors has undergone a multi-million pound management buy-out backed by funding from Mercia Debt.
The buy-out of Protek Fencing hands control of the business to Managing Director Kristoffer Sharp and Commercial Manager Matthew Pickering, and paves the way for the retirement of former Contracts Director Scott Clayton.
The Leeds-based company has secured a significant funding package, with half coming from Mercia’s SME Loans fund to support the buy-out. The remainder comes from NPIF II – Mercia Debt Finance, which is managed by Mercia as part of the Northern Powerhouse Investment Fund II (NPIF II), and will be used to finance new plant and technology, as Protek targets larger frameworks and contracts, while broadening its services into bridge parapets.
Protek specialises in road restraint systems including safety barriers, pedestrian guardrails and security fencing. Founded in 1987 by five engineers, including Kris’s father Richard Sharp, it now employs 11 staff. Current projects include the Armley Gyratory upgrade in Leeds and barrier replacement scheme on the A69 Carlisle–Newcastle route.
Kris Sharp, Managing Director, said: “Nearly four decades of quality and reliability have given Protek its reputation. Our goal is to increase turnover by adding specialist parapet works and expanding our footprint across the UK.”
Gary Whitaker, Investment Director at Mercia, added: “Kris and Matt have the sector knowledge and drive to take Protek to the next level. Our tailored package not only funds the buy‑out but equips the business for immediate growth.”
Lizzy Upton, senior investment manager at the British Business Bank, said: “NPIF II is here to support ambitious regional businesses through key moments of transition and growth, and Protek Fencing is a great example of that. We’re pleased to support the new management team as they build on Protek’s strong foundations and drive the next phase of growth from their base in Leeds.”
The £660m Northern Powerhouse Investment Fund II (NPIF II) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.