Wadkin UltraCare directors Nigel Smith and Francis and Nigel Dalton have relinquished their interests in the company and resigned from the board following the recent management buyout.
Mr Smith plans to pursue other activities in the woodworking machinery industry while Messrs Dalton will concentrate on running woodworking machinery supply company AL Dalton Ltd.
Francis Dalton said: “My brother Nigel and I went into Wadkin to support the purchase of the company from receivers four years ago with Nigel and Peter Smith. We like to think our involvement was influential in ‘steadying the ship’, but when approached by Peter Smith and the employees about the management buyout we felt the time was right to leave it to the personnel who are involved on a day-to-day basis.”
Nigel Dalton explained that Daltons owns the Wadkin classical machine range and all its marketing and distribution rights and it intends to develop and continue to market these products under the Wadkin brand. Manufacture will continue at the new Wadkin factory at Bardon, Leicestershire.
Nigel Smith intends to pursue his interests in the import and distribution of equipment for the panel industry, and it is hoped that links with Daltons might be developed with a view to marketing CNC machining centres, beam saws and edgebanders.
