Alloy Wire International (AWI)’s senior management team, comprising Managing Director Tom Mander, Technical Director Andrew Du Plessis and Finance Director Adam Shaw, has purchased the business from the current owners, cementing the Black Country firm’s long-term future.
The deal will see all 33 members of staff become shareholders in the business, reinforcing a company-wide commitment to each other and its 6000-strong global customer base.
The trio have also pressed the button on a near £1m investment drive that will see new wet drawing and single hole dry drawing machines arrive during the course of the year, along with an annealing line spooler and several hundred tonnes of raw material.
Alloy Wire International manufactures round, flat and profile wire in over 60 Exotic alloys, such as Inconel, Monel, Hastelloy, Nimonic and Waspaloy.
Alloy Wire International has been supported in the MBO by Andy Wyeth, Corporate Relationship Director at HSBC Corporate Banking’s West Midlands Team, with the company’s existing accountant, BSN Associates, helping structure the deal.
