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A Nottinghamshire businessman has purchased a national franchise Gas-Elec Safety Systems Limited having secured funding from Barclays.

Ian Seabridge, who owns Ridgebase Limited, has purchased Gas Elec Safety Systems Limited, Safety Choice Limited and Gas-Elec Bureau Limited through Gas-Elec Holdings Ltd business with fellow Directors and shareholders Nick Morton and Steven Dearlove – who each own existing franchises in the company in their respective areas of Ipswich and Somerton.

The Organisation / Franchise, which was established in 2004, offers safety testing, servicing and maintenance for gas and electrical products to letting agents, landlords and consumers throughout the UK.

Commenting on the purchase, Director Nick Morton said:

We were presented with the opportunity to buy out the retiring owner of the business and embraced it wholeheartedly. We believe in the value of the brand and are delighted to be given the opportunity to take over the reins and further grow the business on a national scale.

Funding for the buy-out was provided by Barclays. Alan Mele, Relationship Director at Barclays in Nottingham said:

I was provided with the opportunity to support this exciting purchase of a Nationally Based organisation and was only too pleased to support Ian, Nick and Richard with the purchase and look forward to seeing them develop the business across the country.

Carl Chadwick of Sunaxis Ltd and Peter Seary of Roythorne’s Solicitors supported and advised on the deal.

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