All staff at a leading manufacturer of round, flat and profile wire are now shareholders thanks to a recently completed Management Buy-out (MBO). Alloy Wire International (AWI), which has two sites in the West Midlands and Yorkshire (UK), was purchased by Directors Tom Mander, Andrew Du Plessis and Adam Shaw in January, with the new management team immediately extending the firm’s Employee Ownership scheme to include all 33 employees. It has been a long-term commitment that first started in 1999 when Bill Graham fulfilled a 23-year vision of putting staff at the heart of the business by giving them share ownership and, importantly, the same opportunity to benefit from its growth. AWI turnover has grown from GBP1m in 2000 to GBP12.8m at the start of 2022, with impressive sales putting it on course for nearly GBP18m by the close of the year.
Tom Mander, Managing Director, commented: “Bill’s decision at the start of the millennium gave us a distinctive edge to our business, and this was something Mark Venables took on when he led the previous MBO in 2013. We have seen first-hand what the employee ownership scheme has meant and the sense of commitment and pride it brings. It was a natural decision to use our own MBO to include the new members of staff and get all 33 employees on the same scheme.”
Alloy Wire International manufactures round, flat and profile wire in over 60 alloys, include duplex, super duplex, Inconel, Monel, Hastelloy, Nimonic and Waspaloy.
