Industry News

One of the UK’s leading manufacturers of round, flat and profile wire has completed a management buyout, as it looks to target GB£15 million annual sales for the first time in its 77 year history.

Alloy Wire International’s (AWI) senior management team, comprising managing director Tom Mander, technical director Andrew Du Plessis and finance director Adam Shaw, have purchased the business from the current owners, cementing the Black Country firm’s long-term future.

The deal will see all 33 members of staff become shareholders in the business, reinforcing a company-wide commitment to each other and its 6,000 strong global customer base. The trio have also pressed the button on a near GB£1 million investment drive that will see new wet drawing and single hole dry drawing machines arrive during the course of the year, along with an annealing line spooler and several hundred tonnes of raw material.

“This is another major milestone in the history of AWI and gives us the platform to capitalise on recent growth and massive export opportunities,” explained Tom Mander. “The new owners have over 45 years’ combined experience of working here, so it was a natural progression for us to step forward and take the business on, with previous Managing Director Mark Venables moving to chairman for the next five years and R&D Director Angus Hogarth taking a consultancy role.”

Tom continued: “There’s something very special about this business and this MBO ensures we maintain and cultivate this for the next 75 years. We will continue to focus on our USPs, which include delivering the fastest industry lead times, world class manufacturing quality and an expanding range of exotic alloys. It goes without saying that the technical expertise AWI is known for will continue to be a cornerstone of our approach.”