Wheelwright sold in management buyout
Wheelwright Limited’s management team recently acquired the company from previous managing director Kevin Greer through a management buyout process. According to the company, “this means that Wheelwright Limited is now owned and operated by the same team of experienced enthusiasts that helped the Kent-based company achieve its existing position as the country’s leading supplier of aftermarket wheels and chassis-related products.”
The management buyout was led by sales director Dave McMillan, operations director Thierry Hooker and newly appointed CEO Malcolm Thomson. The new owners see the acquisition as “an unmissable opportunity to further develop the business and target growth through the development of new product ranges, the growth and curation of new and existing brands – as well as working with its dealer network to create new opportunities and market niches.”
The change will mean the development of new products, as already seen in the UK-driven Road Hero space saver spare wheel initiative. While internally, the restructuring will promote a more modern working style with increased staff benefits.
Commenting on the new ownership line up, McMillan said: “We’re going to keep offering the same superb products and service that our customers and end users have always enjoyed, but now with decision making completed at board level between myself, Thierry and Malcolm and with input from key staff in key departments, we’re confident we can react more quickly to new ideas, market trends and ensure our dealers are always a step ahead with our products. As part of the MBO, the business has raised development capital to allow significant investment in the business which will support our continued growth and support the high levels of service enjoyed by our brands and customers.’
Wheelwright sells a plethora of brands including: Calibre, 7Twenty, Tomahawk, Dezent, DRC, AEZ, Dotz, Momo and Road Hero via a UK network of over 500 wheel specialists. cja