Founders of Blaby Electrical Ltd inc Blaby Alarms, Tony and Karen Smith, having set up and grown the business over the last 36 years, have finally made the decision to enjoy their retirement and other ventures. To facilitate this decision and to aid the business to continue to excel moving forward, we are pleased to announce that a management buyout has taken place, with two new co-owners replacing Tony and Karen’s previous positions as 50/50 shareholders!
Following a discussion that took place earlier this year with managing director Ben French and the now director of fire and security services Elliot Smith, Tony breached the topic of his two employees buying out the company. With zero hesitation but a little negotiating, the pair eagerly agreed, and just three months after that initial discussion, the deal was complete with all paperwork signed! This move will allow the company to continue to succeed with a management team that already knows the client base, the company’s ethos and values and the company’s workforce.
“Well, I have done it! When I setup the business in August 1986, the long-term plan was to sell the business on, so we had a sum of money to enjoy our retirement. There was no time frame for this, it was always going to be when it felt like it was the right time. Then suddenly, I got someone showing an interest in taking over the company and it didn’t take long for Karen and myself to think this was the right time. Selling it to someone that hadn’t grown with the business didn’t feel right, which is why I couldn’t be prouder that Elliot and Ben have taken over the ownership. I know they both have ideas of their own to grow the business and Karen and I look forward to seeing it grow and we both wish them all the luck in the world.”
Tony Smith, Former Owner
Want to know a little bit about Ben and Elliot, the new co-owners of Blaby Electrical Ltd?
Ben French (left) has been with the company for twenty years now, starting off as a young 1st year apprentice electrician, working his way up the ranks over the years, and having taken on the role of managing director back in 2019.
“It is an honour and a privilege to be given the opportunity to take over the company along with Elliot. I am confident we will do Tony & Karen proud and hope they enjoy their retirement to the fullest. From a personal perspective, it would be amazing to be able to offer the same opportunity to one or both of my children, should they wish to be involved in the business when they are older. However, for now ensuring the business is successful and continues to grow is key, not just for them but for all the team and their families here at Blaby Electrical. Being one of the only out and out Electrical, Fire & Security System contractors in Leicester puts us in a great position to build upon.”
Ben French, Managing Director
Elliot Smith (right), the son of Tony and Karen Smith, began working for his family’s business sixteen years ago now again starting off as a young 1st year apprentice electrician, and took on the title of fire and security systems manager in 2019. Elliot is proud to be maintaining the family business ties that Blaby Electrical has carried for so many years, as he steps into his father’s shoes as one of the new co-owners of the company.
“We have now been given the exciting opportunity to take over the company and continue where Tony left off. I’m looking forward to taking the company forward into the future of fire and security.”
Elliot Smith, Fire and Security Systems Manager
Clients of Blaby Electrical can rest assured that the reliable service that they know and expect will be maintained for years to come, with the added enthusiasm of the new co-owners to grow the business. We look forward to expanding our service offerings moving forward and we welcome new discussions with any industrial, commercial & domestic clients.