New President for Lorient North America
We are delighted to announce that Paul Chudley, Technical Services Director of Lorient UK and Kristy G Jones General Manager of Lorient North America have effected a management buyout of the Lorient Group’s Kentucky operation – Lorient North America Limited.
The majority shareholding in Lorient North America Ltd, which specialises in the design and manufacture of acoustic, smoke and fire sealing systems, has been acquired by Paul Chudley and Kristy G Jones for an undisclosed sum. Advisors for the deal included Francis Clark, Stephens Scown, Eveling Legal and Advisory – all of Exeter; alongside J P Morgan Bank, in the USA. Paul Chudley, who remains Technical Services Director of the UK company, has been instrumental in the successful growth of the American operation for close on 15 years. Business partner Kristy runs the operation locally, managing a team of dedicated staff. A significant stake in the business continues to be held by Lorient Holdings Ltd.
Lorient was established in 1979 manufacturing fire seals from a base in Surrey, relocating to Devon in the early 1980’s. The Lorient Group has grown to encompass businesses around the world and has established Lorient operations in Australia, the Middle East, as well as the UK, USA and Hong Kong. Recognised as a leader in its field, it has a strong reputation for innovation, research and development and sophisticated extrusion technology. Lorient North America Ltd supplies products throughout the USA, both directly to door manufacturers and via two prestigious Private Label accounts.
The new owners of Lorient North America plan to build on its firm foundations and fully intend to continue to innovate, bringing new ideas to its customers throughout North America. Speaking of the deal, Paul Chudley said: “This provides an exciting outlook for Lorient North America, in that we are part of a proven, successful team with over 25 years’ service between us, and we now have the opportunity to take the company forward for the next generation. Our commitment to staff and all those associated with our business is to continue to operate with the same values upon which this business has been built and to continue to prosper as a result of providing the very best solutions and service to our customers.”
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