Our story so far
Second partial management buyout secures our future independence and commitment to clients
Partial Management Buy-Out (MBO) Completed
Following the success of the first partial Management Buy-Out in 2018, we are pleased to announce the completion of a second MBO, led by our Board Director, Neil Timmins, with full support from the Board.
The Caice Operational Board of Directors, 2024
This new phase of our MBO further strengthens the distribution of ownership and expands our shareholding within the business, positioning Caice for continued growth and success. It also helps preserve the rich heritage and values that define our company.
Crucially, the MBO ensures that Caice remains 100% owned by individuals within the business, reinforcing our long-term commitment to sustainability and independence.
Our commitment to clients remains as strong as ever
As a Board, we are confident that this strategic decision preserves our pioneering spirit, supports our clients and our company’s future, strengthens our brilliant team, and aligns with our long-term goals.
This transaction highlights our unwavering dedication to both our clients and the future of Caice. Importantly, there will be no changes to any roles or responsibilities following the MBO.
In 2018 founders, Martyn Cashmore and Ken Amott announced the first partial management buyout (MBO), which was led by Mark Macdonald and fully supported by all the other Caice directors. It also marked our 25th birthday as a business and gave us a very good reason to have a serious party.
“On top of this, we launched a completely new range of Fan Coil Units on 1 June, making 2018 a really great year”, says Caice Managing Director, Ken Amott.
Left to right: Martyn Cashmore, Stephanie Barnett-Dean, Mark Macdonald and Ken Amott.
Martyn Cashmore and Ken Amott cutting a Fan Coil Unit cake.
This announcement and the new share ownership structure will allow us to continue our pioneering product development, while preserving our heritage and precious culture. It also devolves more accountability to the people who know the business best – our senior management team which has a real passion for our clients, people, products and services.
The MBO supports the future growth of the business and secures our independence, which is reassuring for all our people and our clients. “We are very excited with our ambitious plans for the future and we now have the solid foundations in place to help us achieve our targets,” says Ken Amott.
He goes on to say, “this year we will turn over more than £13m and employ around 150 people, across three offices and two factories. It is a fantastic achievement that has been made possible by everyone who has worked so hard for us over many years”.
During the past 25 years there have been plenty of highs and lows. Working on prestigious projects like The Royal Albert Hall, Wembley Stadium, The Shard, The Millennium Dome (now the O2 Arena) and just recently a £2.6m continuous line Acoustic Louvre façade project at Infinity Here East are just a few of the high points.
Fighting the effects of the recession was undoubtedly a low point but we took the opportunity to improve our processes and as a result we still enjoy the positive impact on our productivity.
Martyn and Ken started the business in 1993 in a small two-room basement office in central Reading where they got the business off the ground, often worked 14 hour-days and 7 days a week and it was an exciting but challenging time. With the help of our first two employees, we turned over £350k in the first year which was a tremendous achievement.
“Working with the team of people we have in place today is why we can achieve something special and I believe this will provide real motivation for all staff to participate in the future of the business” Martyn Cashmore states.
