Enspec, a power quality engineering company, is delighted to announce the completion of a management buyout (MBO) along with the appointment of a new Chief Executive and Chief Technical Officer.
Husband and wife Tim and Mara Rastall are the new co-leaders of the St Helens-based business.
Tim, who has been with Enspec for a decade, is the new CTO and Mara is taking the position of CEO.
The pair were previously directors alongside Enspec’s sibling founders David and Stephen Jones and have bought the majority share of the business.
The MBO heralds a new era for Enspec, with the company forecasting further growth during 2023.
Mara said: “We’re delighted and honoured to have completed this MBO.
“As both a consultancy and manufacturer, Enspec is undoubtedly a unique electrical engineering firm. We specialise in power quality and grid connection as well as providing other crucial services, with a well established client list in Scotland for both large energy generators and large energy users.
“Myself and Tim are excited to be taking the reins during an exciting period for not just Enspec, but for the energy industry also.
“Together, we make a very good team that brings together business acumen and growth ambitions, technical expertise and a focus on exceeding the expectations of our customers.”
She added: “The energy industry is growing and there are more players in the market than there have ever been before. With 10 times the amount of renewable projects in planning and development than those in operation, Enspec will continue to play an active part in the net zero revolution, not just in the UK, but globally.
“We are keen to play an even more significant role in the revolution of industry as net zero 2050 nears.”
Having been founded in 1998 Enspec boasts a niche area of expertise in the UK through its consultancy and manufacturing services.
Enspec’s clients include large energy generators such as major wind farms, major solar farms and hydro plants and major energy consumers including manufacturers and hospitals.
The St Helens company, which also has a design and manufacturing site in Newcastle, provides a range of services to its customer base, including power system studies, power quality analysis, renewable energy consultancy and site maintenance.
Enspec also design, manufacture and commission bespoke products, including Harmonic Filters, Reactive Compensation, Power Factor Correction and Point-on-Wave Switching.
Following the MBO David and Stephen Jones have issued a joint statement.
It said: “Enspec has enjoyed rapid growth of late in an industry that is subject to rapid change.
“The last almost quarter of a century has been an incredible journey. We are a family run business and offered Tim and Mara the opportunity to buy the business due to them very much being part of the family.
“Under their leadership, and with support from the wider leadership team, Enspec will continue to thrive.
“They are the perfect pairing to take Enspec forward. They have an in-depth understanding of the industry in which the company operates and share a great deal of drive and ambition for Enspec to be the best it can possibly be.
“We will remain active in the business as minority shareholders and wish Tim and Mara and the team all the best during the rest of 2023 and beyond.”
