Owner’s son leads MBO at Sheffield gearbox repairs firm

Published: 18 August, 2017

A team of managers, led by managing director Lee Walkland, has acquired the Sheffield-headquartered gearbox repairs business TDR Transmissions for a seven-figure sum. Walkland is taking over from his father Ken Walkland, one of two existing owners. He will be joined by Darren Morland, Carl Smith and Jason Smith as the new owners.

TDR, founded in 1979, specialises in repairing and reconditioning industrial gearboxes, vacuum pumps and industrial blowers. It has an annual turnover of £2.2m and employs more than 20 full-time staff, as well as running an apprenticeship scheme.

“This MBO heralds a significant milestone for TDR which has grown from a small-scale business to become one of the UK’s leading industry suppliers of gearbox repairs,” says Lee Walkland. “My partners and I are looking forward to continuing the growth of the business and strengthening our position in the industry.”

The TDR management buyout team (from left): Carl Smith, Lee Walkland, William Islip from NatWest, and Jason Smith

A collaborative funding package totalling £1m has been provided with NatWest and RBS Invoice Finance. The remaining contribution has come from the new owners.