The management team of Wheelwright Limited have recently acquired the ownership of the company from previous managing director, Kevin Greer, through a management buyout process.
According to a company statement, Wheelwright Limited is now owned and operated by the same team that helped the Kent-based company achieve its existing position as the UK’s leading supplier of aftermarket wheels and chassis-related products.
Covering a plethora of brands such as Calibre, 7Twenty, Tomahawk, Dezent, DRC, AEZ, Dotz, Momo and Road Hero, Wheelwright has grown over the last few years to become one of the major players in the aftermarket.
The management buyout was led by sales director Dave McMillan, operations director Thierry Hooker and newly appointed CEO Malcolm Thomson.
With many years of combined experience within the aftermarket sector, 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 company said that all important decisions will now be concluded in-house, which will allow Wheelwright to react even more quickly to emerging trends. It will also provide the immediate authority to commission new and innovative solutions to existing needs.
From an external perspective, Wheelwright added that this 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.”