Management buyout at Winder

Edited by the Engineeringtalk editorial team Aug 17, 2005

Leeds based Winder Electrical and Newton Derby, specialists in the design and manufacture of power generation and electrical equipment, have announced a management buyout.

Leeds based Winder Electrical and Newton Derby, specialists in the design and manufacture of power generation and electrical equipment, have announced a management buyout.

Both companies have a long and successful trading history of over 100 years, with solid order books showing a turnover of around GBP 8 million, and strong trading records to take into the new parent company, Winder Power.

The new management team of Winder Power, led by chairman Richard Asquith, alongside General Manager Paul Matthews and operations director Andy Pinkney, have very positive plans for the future of the new company.

This deal secures the jobs of 75 employees and should eventually lead to the creation of further jobs at the company's base in Pudsey, Leeds, where production will continue without disruption.

With its solid reputation in the industry, the company's customer bases are strong.

Last year Winder Electrical won a lucrative GBP 1.2 million contract for the supply of power equipment for the Channel Tunnel Rail Link.

In addition, the company previously secured contracts for the supply of equipment in the Shetland and Orkney Islands, Northern Ireland, Nigeria and the Middle East.

Newton Derby also has a major ongoing contract with the Ministry of Defence as well as customers within the power and water utilities.

It is on this strong foundation that Winder Power will build in the future.

Chairman Richard Asquith is delighted with the deal.

He said: "Everyone has worked hard to secure the future for two of Yorkshire's most established manufacturing companies".

He continued: "Both have excellent reputations within their field - the companies going forward are now able to realise their potential".

"The management team is committed to the growth of these specialist businesses within the next five years, and can see a bright future for the skilled and dedicated team at Leeds".