Manufacturing News

100-plus jobs secured after takeover of manufacturing firm

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Written by: Andrew Merrell | Posted 14 November 2017 7:36

100-plus jobs secured after takeover of manufacturing firm

One hundred jobs and the future of a fast-growing £10million Gloucestershire business have been secured after it was sold to new owners.

A management buyout of Gloucester-based CDW Systems sets the firm – a specialist manufacturer and supplier of aluminium windows and doors - up for a new era with more growth on the cards.

Existing senior management team of Richard Smith, Angela Phillips, Jeremy Phillips, Allan Little, Martin Rowe and Mike Davis have bought the business from its group chairman Jerry Webb.

The MBO comes one year after Mr Davis became managing director at CDW.

Mr Davis said: “The management buyout at CDW Systems marks the beginning of the next chapter in the company’s history but we also want to stay true to our company’s long-standing values and standards.

“The six of us have purchased the company from Jerry but we are not planning to implement any major changes. Jerry will remain an important part of the business as a non-executive chairman and we look forward to continuing to benefit from his advice and extensive knowledge of the industry.”

He added: “On behalf of the team we’d also like to thank Jerry for this continued commitment to the business and his professionalism and vision in overseeing its success to date.”

The team has formed a new holding company, East Manor Group which will manage its three operating companies - CDW Systems Ltd, Clearway Doors & Windows Ltd and Designex Cabinets Ltd.

Mr Davis confirmed the new owners “do not intend to make any changes operationally to how the business is run on a day to day basis”.

He also stressed Mr Webb continue to be very active within the business, reviewing the strategic direction of the business going forward.

“I’m very pleased that CDW Systems has passed into such experienced and dedicated hands. In my new role, I will continue to meet with customers and suppliers,” said Mr Webb.

“Since the MBO in late September, I feel I’ve been even more actively involved in the company than I have been in recent years, so I don’t see myself slowing down anytime soon.”

Handelsbanken and law firm Harrison Clark Rickerbys, which has offices in Cheltenham, helped make the MBO possible.

CDW Systems was formed in 1992 and the last 25 years has seen the company expand along with the UK’s growing aluminium industry.

Last year the joint group turnover was in excess of £10 million and “it aims to continue this growth by exploring areas and opportunities to increase the scope of its businesses even further”.

Pictured top: CDW Systems - (Left to Right) Angela Phillips, Jeremy Phillips, Mike Davis, Richard Smith, Martin Rowe and Allan Little

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