by Tom Walsh
Swift Group has revealed details about its senior management buyout (MBO) which has seen a major restructuring of its operations.
The deal actually took place in July 2012 but officials stated that it was being kept under wraps until it was ready to announce the plans.
The Hull Daily Mail reports that this move has seen “significant investment” being brought into the company.
Swift employs around 850 people with over 800 being based at its sites in Hull and East Yorkshire, and the MBO will allow the company to continue its development and move forward in the future.
James Turner, managing director, told the news provider: “These are incredibly tough trading conditions for the whole caravan industry. Swift’s strong product development programme and our emphasis on new cost-effective products across all three areas is helping us combat these conditions effectively.”
Swift Group is one of Britain’s biggest caravan and motorhome manufacturers and owns historic brands such as Sprite, Sterling and Bessacarr.
