Victor Manufacturing today announced new ownership following a management buyout led by long-standing managing director, Phil Williams.
Mr Williams, who has been with the company for almost 20 years, took the decision to take over the business when the Mrs J M Mountain Will Trust opted to sell the manufacturing firm.
Victor has seen solid growth over the last five years with turnover increasing from £5m to £9m. Following the takeover, Mr Williams declared ambitious growth plans to continue this success with a clear strategic goal over the next five years aimed at growing annual revenues to £20m.
He commented: “It is a really exciting time for Victor as we enter new markets and continue to grow our existing ones. Having been part of the company for almost 20 years, I am looking forward to working with the team to continue the great work we have become renowned for over the last 75 years.
“The new ownership will provide peace of mind to our staff, customers and suppliers that it is business as usual and with my new commitment as owner as well as managing director, they can be confident in a very strong future ahead.”
Significant new accounts over the last 12 months, along with being appointed the exclusive UK partner of leading US manufacturer, Duke, has had a positive impact on the company’s continued year-on-year growth.
The firm employs 120 staff over three facilities in Bradford and supplies catering equipment to some of the UK’s largest companies and groups in a variety of sectors including education, care, public sector, hospitality, contract catering and retail.
Financial funding was secured from HSBC UK to support the management buyout.