Managing director Andrew Ward has led a management buyout at the UK´s leading research consultancy, Rapra Technology (Shawbury, Shrewsbury, GB- Shropshire SY4 4NR; www.rapra.co.uk). Completion followed a 96% vote in favour by members. The terms of the deal have not been disclosed. Commenting on the buyout, Ward said: “Our MBO is good news for the company and good news for the plastics and rubber sector who can continue to rely on Rapra as the polymers-dedicated testing and research facility.”

In addition to protecting the consultancy from takeover, the buyout will release fresh capital for research and allow the management to acquire complementary businesses. Sales and profits at Rapra have been below expectations in recent years and 2001 saw the first trading profit in five years. Part of that revival was due to a reduction in the staffing level, which now stands at 140 compared with 175 in 1998.

In addition to its broad polymer focus, Rapra is looking to develop new sources of income from a number of sectors. These include: research; the health care market; product and materials testing for chemicals producers, OEMs and international processors; legislative-driven concerns to the polymer and chemicals industries; knowledge-based training and supply chain management.