Harboro Rubber Completes Management Buyout

UK-based Harboro Rubber has completed a management buyout, ending 130 years of family ownership. The buyout, backed by a ‘seven-figure’ loan from HSBC UK, sees managing director Michael Fallis-Taylor take full control of the business. James Briggs is stepping back from the company. The transaction will support investment in R&D, expanding the product portfolio, including Dainite-branded shoe soles, and modernizing operations through new technologies and lean manufacturing practices. The company expects to achieve annual turnover growth of 10% over the next five years. Financial terms of the deal were not disclosed.