Border Oak announces RBS management agreement

Border Oak Design and Construction has completed a management buy-out following a funding package from the Royal Bank of Scotland.

The family business has been run by John Greene and brother-in-law Mark Hicks since it was established in 1980.

Following Mark's decision in late 2009 to retire and exit from the company, remaining shareholder John approached RBS' commercial team in Hereford to identify options to buy out Mark's share of the business.

RBS relationship manager Craig Wyer, and Geraint Regan of the bank's Structured Debt Solutions team, developed an innovative finance solution in order to facilitate the buy-out, including a GBP750,000 capital funding facility.

Border Oak is a market leader in the design, fabrication and construction of bespoke green oak structural frames for commercial and private customers, from beamed cottages to commercial outbuildings.

All frames are produced by hand at the Herefordshire site.

The company also offers advice on identifying suitable plots and supplies drawings and documentation for planning approval, as well as a range of construction services.

The company and its products appear regularly in home and design magazines, including Country Living, Homes and Gardens, Built It and Sunday newspaper supplements.

Border Oak has featured on Channel 4's flagship design series 'Grand Designs', and has received numerous industry awards, including accolades from the Federation of Master Builders and the Daily Telegraph Homebuilding and Renovating Magazine.

The company, which celebrates 30 years in business this year, has also developed an award-winning partnership with Herefordshire Council's building control unit.

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