It has been three years since Danny Lucas, together with Ken Mulholland and Adam Lucas, led the management buy-out of Lucas Group.

The transaction, which was structured by Meta Corporate Finance and who remain advisers to the Board, saw Danny takeover the majority shareholding from his father Sam Lucas who has continued to support the business with a substantial deferred consideration loan note.

The business continues to grow from strength to strength and has expanded its top line, its key customer accounts and its involvement with the most prestigious building contracts. During this time Danny has been able to accelerate the scheduled payments of Sam’s deferred consideration loan note, all with the support of Lucas Group’s bankers, Coutts, who have just conducted a very favourable review of the Group’s ongoing facilities. The outcome of this review yielded the following comment: “Lucas Group are certainly a client that have demonstrated their ability with Coutts and in the construction industry and I would be happy to consider assisting with future projects.”

Lucas Group is now focusing on its strategy for the years ahead and its board and advisers are strengthening its governance systems to create a platform for further growth. This will underpin an ever strengthening financial position whilst maintaining its ability to meet its remaining liabilities to existing and past shareholders as defined and scheduled under the original MBO transaction.

Lucas Group is excellently positioned to take advantage of the recent upsurge in activity in the construction sector. This remains a huge opportunity not just for shareholders but also for Lucas employees and business partners who are all keen to share our journey.

Danny said: “I am building a team both in terms of internal management and external advisers that is capable of taking our business forward to bigger and better things and I want to share this vision with all involved.”