Atal UK completes management buyout backed by Development Bank of Wales
Atal UK completes management buyout backed by Development Bank of Wales
Dominic Thew has taken the reins at Atal UK following a successful management buyout of the Tredegar-based structural and basement waterproofing business. The deal was part-funded by a seven-figure debt and equity investment from the Development Bank of Wales.
Founded in 2012, Atal UK operates from the Tafarnaubach Industrial Estate and employs 19 staff. The company provides structural and basement waterproofing services, as well as ground gas protection solutions to architects, contractors, and groundworkers across the UK.
Thew, who joined the business in 2015, now steps into the role of Managing Director, succeeding founder David Rees.
“I’ve worked alongside David for the past decade to help build Atal into a leading UK provider,” said Thew. “We use advanced materials to offer bespoke, cost-effective waterproofing solutions. Our investment in people has always been a priority and will continue to be at the heart of our growth strategy.”
He added that the support of new Chair Simon [last name not provided] and the Development Bank of Wales would be instrumental in the company’s next phase of development.
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Scott Hughes, Senior Investment Executive at the Development Bank of Wales, worked on the transaction alongside colleague John Babalola.
“It’s great to support a long-standing employee like Dominic in taking ownership of a well-established and reputable company,” said Hughes. “This buyout preserves local jobs, secures the company’s legacy, and ensures continued service for its clients across the construction industry.”
The deal was supported by a team of legal and financial advisors including Alex Butler at Geldards, Stephen Thompson at Darwin Gray, and Tanya Wilson, formerly of Haines Watts.
The investment forms part of the £25 million Wales Management Succession Fund, managed by the Development Bank and financed by the Welsh Government and Clwyd Pension Fund. The fund offers loans and equity investments ranging from £500,000 to £3 million for management teams looking to acquire and run their own businesses, with terms from one to seven years.
