IN his final press conference of 2008, PM Gordon Brown said a ‘can do attitude’ will help the British economy get through the current downturn.

And thinking positive has held Gordon Rothwell in good stead. After gaining a degree in chemistry, and computing qualifications, Gordon joined James Hargreaves (Plumbers’ Merchants) Ltd in 1983. At the time the firm had three branches. After five years Gordon had risen to MD and today the company has 23 trade outlets as well as their luxury bathroom showroom in Burnley, the largest in the North West. In 2008 Gordon steered the company to a highly successful management buyout, making it even better placed to face a changing world.

In his early days Gordon was quick to introduce computer technology to the company. Today he is in the vanguard of the latest in bathroom design, stocking a wide range of wet rooms. He is thankful that the current fashion for white bathrooms shows no sign of abating and that avocado and burgundy bathrooms have become a thing of the past. He says: “Our strength is that we stock in depth and it is easier when there is one colour to consider.” The vast majority, 95 percent of the company’s business, is however to the trade and DIY.

James Hargreaves has also explored ‘green’ options by going into partnership with the Dutch renewable energy firm Unico, which produces all the technology necessary for solar panels. Gordon is proud to have been a supporter of Burnley Football Club ‘ever since I can remember’. His attitude to his favourite club is typically upbeat. James Hargreaves has just signed a record six-figure deal with the club and they will continue as sponsors of the North End at Turf Moor for another five years. Gordon says: “We are willing to sign a five-year deal at the beginning of a recession. We are going forward with Burnley FC who have beaten Premiership clubs Chelsea, Arsenal and Fulham this season. And of course they are in the Premiership themselves next season!  It has been an outstanding achievement.”

It is not surprising that Gordon has chosen a forward thinking firm of accountants like Cassons to take his company forward. Cassons' senior partner Ashley Hayman is the company’s corporate finance adviser. Gordon says: “Ashley saw to our recent management buyout. It was a complicated mechanism to accomplish what we did. We have achieved our goals and we are happy with that.”

The company’s 20 non-management shareholders accepted a payout to relinquish their stakes which, in some cases, dated back 40 years. Ashley and his team advised on the structure of the deal and the price to be paid. Colin Tice, Cassons’ tax partner, worked alongside Cassons' corporate finance team to ensure the most tax-efficient outcome.

Ashley explains: “The deal meant the management of the company became masters of their own destiny. James Hargreaves is a major player and it was very difficult for the management to make certain decisions when they were accountable to shareholders who were not involved in the running of the business. We were delighted that it all went through so smoothly.”

Cassons also advise James Hargreaves on all other aspects of their accounting. Peter Johnson is the partner with overall responsibility for the company. “I have a very close relationship with Gordon and the team at James Hargreaves. The MBO has certainly made it easier to accomplish what we need to do to keep the company at the forefront of the industry.”