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Saturday 14 May 2011

Heating Plumbing Supplies Group now owned by staff

Heating Plumbing Supplies Group is now totally owned by the staff and management of the company with no outside shareholders.

The successful management buy out (MBO) follows the announcement of record sales and improved company profits for 2010.

Sales were £39.6 million in 2010 up from £33.3 million in 2009. Profits were up over 50% from £1.2 million in 2009 to £1.81 million in 2010.

Managing director, Ron Walker, said: “We are delighted to announce such excellent results and to have completed a successful management buyout of the company.

“We are especially pleased that 50% of our staff have taken the opportunity to invest in the company which reflects the amazing support and dedication the company enjoys from all its staff.

“We look forward to continuing the successful development of the company following our MBO and will continue to expand our branch network in the coming years where we can find the right people and suitable opportunities,” he said.


Sourced from Plumbzine

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Posted by WSS Media at 04:35

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