Wadkin UltraCare Ltd managing director Peter Smith has led a management and employee buyout of the total interests of the company.
The new company, Wadkin Group, will continue to trade under the Wadkin Machines brand, together with the expanding service division UltraCare.
Mr Smith said: “This is an exciting step in the development of Wadkin, and following the acquisition of the company by the employees and the development of our new state of the art facilities in Bardon, Leicestershire, the group will now look to grow its position in the markt place.”
He said the company will form new alliances with manufacturers and machine suppliers worldwide during 2005, plus joint ventures for technical development and expansion of UltraCare’s capabilities within the service and aftercare market.
The company will continue its alliance with A L Dalton Ltd, which supplies the Wadkin range of classical machines to the market. But it will also look to “fresh opportunities” in developing new products for that market.
Mr Smith said he is relishing the challenge of taking the company “back to the forefront of the industry”.
He will be joined on the new board by Steve McGloin and Steve Foster. Nigel Smith has left the company to pursue other interests.
