ZERO! Williams & Co sold in management buyout

Post new thread

Currently reading:
ZERO! Williams & Co sold in management buyout

Discuss ZERO! Williams & Co sold in management buyout in the Plumbing Jobs | The Job-board area at PlumbersForums.net

Status
Not open for further replies.
R

Ray Stafford

Well, I kept you waiting.

See below for the text of the press release which just about says it all.

Williams & Co in Management Buyout.

Trade-only plumbing and heating merchant, Williams & Co, has been acquired from the Williams family by its management team and staff for an undisclosed sum.

Founder Mick Williams retains a minority share, and will continue as non-executive chairman after the buyout, which was finalised on 23/04/2015.

A consortium of management and staff, led by longstanding executive directors Ray Stafford (MD) and Rachel Moore (FD), put the successful bid together, supported by Nat West and Royal Bank of Scotland who have structured a flexible finance facility secured on receivables and inventory. Professional advice has been provided by Taylor Cocks (accountants) and Quar & Co (solicitors). The consideration includes a mix of cash, equity and loan notes, ensuring that the business retains ample resources to maintain its aggressive trading style and expansion plans.

Outgoing boss, Mick Williams, is enthusiastic about the future. “After four decades at the helm, there was always going to be a moment when I took a less active role, and I am delighted that this solution permits the company to retain its unique character and values.”

Managing Director, Ray Stafford, commented: “Rachel and I are overwhelmed by the incredible buy in from the management team and staff. 62% of the staff have invested nearly half a £million of their own money to own a slice of their future and demonstrate their commitment to the business. It’s a huge expression of support and belief from everyone involved. Words can’t express how proud we are to lead such a fired-up team, or how fortunate we are to retain Mick’s matchless experience in the boardroom.”

Williams & Co turned over £43.3m in 2014 from 28 branches in South East England and reported a pre-tax profit of £2.59m. The company also operates the ecommerce website www.tradeonlyplumbing.co.uk and imports and distributes Heatline radiators across the UK – see www.heatlineradiators.com.
Click to expand...

I'm knackered.

My apologies to the mods if my posting gets less and less coherent as the day wears on.
 
Sort by date Sort by votes
Congratulations Ray to you and your team, I'd say I hope you do well but you've already proven that you and your team are winners , all the best ,
 
Upvote 0 Downvote
Congratulations ray and the team just remember Ray the only way is up.

Take it you will still be here providing helpful advance.
 
Upvote 0 Downvote
Ray Stafford said:
Its really easy. Deliveries on our own vehicles don't come with biccies. So you get deliveries (presumably from Nigel in Southampton, or possibly StevieD from Fareham). You get the pleasure of their witty banter and repartee, but have to make your own calorific arrangements.

When we started the ecommerce thing, we felt the loss of control over the selection of drivers, since we obviously don't control the carriers choice of driver. The last thing we wanted was a customer's primary impression of us being a miserable git of a driver, so we started including packets of jelly babies with orders. Not many people can resist smiling when given jelly babies. But jelly babies get boring after a while, so we ring the changes, and a big favourite is the biccies.

Unless you have transgressed against the unwritten code, obviously. Then you get blacklisted. :)
Click to expand...



And and here's me thinking it was because you loved us.
 
Upvote 0 Downvote
Sorry ray only just seen this, (on holls). Just a massive congratulations and good luck from me, it goes without saying , keep up the good work. So theres no change there then.
 
Upvote 0 Downvote
Congratulations Ray, we just need branches in the north now. ( in fact one in Northern Ireland where I am at the moment) as well
 
Upvote 0 Downvote
Ray Stafford said:
Funny you should say that. As I was parking my Hyundai outside the solicitors, I couldn't help noticing a Ferrari and a Porsche 911 parked outside. I asked the senior partner which was his, and he replied "both".

Seriously.
Click to expand...

I got his bill today.

Suffice to say I fully expect to see a Maserati join the Ferrari and Porsche next time I visit.
 
Upvote 0 Downvote
Well done Ray :party:
All the best with your venture and i hope you pull it off big time. You deserve it.
Forget the Maserati's. Next stop St Andrews. The let you in with a Hyundai and they are much more practical for the golf clubs :wink:
 
Upvote 0 Downvote
stani said:
Dundrod, just been to Ballymac for meal after watching point to point and losing money on horses,
With friends not working!
Click to expand...

My mate's having his wedding reception in the ballymac later on this week, I was invited** but can't make it.

** The invite came with the wording "there are young people going, Croppie, don't you dare scare them. Oh, and leave the women alone, I've told them you have chloroform and a van!"

Honestly! He makes me sound like an igor!
 
Upvote 0 Downvote
Congratulations to you and the team. It is a testament to you and the team at Williams that this feels like a victory for us customers too. I Have not felt as pasionately committed to a retailer and there success in my life. Long may the new Williams and co succeed in its plans and continue to foster such exceptional customer relationships.
 
Upvote 0 Downvote
Late to the party as ever, I can't add any more to what has already been said, just say well done Ray & the team.

P.S.
I hope you will keep on posting Ray now that you have a company to run!!
 
Upvote 0 Downvote
Nice one Ray. This sounds like a really exciting time for the staff and management at W&Co. At least you guys are all fully in control of your own destiny now!
 
Upvote 0 Downvote
solutions said:
Congratulations to you and the team. It is a testament to you and the team at Williams that this feels like a victory for us customers too. I Have not felt as pasionately committed to a retailer and there success in my life. Long may the new Williams and co succeed in its plans and continue to foster such exceptional customer relationships.
Click to expand...

Thats such a nice thought Tim that I can even forgive you for the use of the word "retailer".

Change that to "wholesaler" and it might just be my favourite post ever put on UKPF. :)
 
Upvote 0 Downvote
Ray Stafford said:
Thats such a nice thought Tim that I can even forgive you for the use of the word "retailer".

Change that to "wholesaler" and it might just be my favourite post ever put on UKPF. :)
Click to expand...


Done and done. [emoji1]

Originally Posted by solutions
Congratulations to you and the team. It is a testament to you and the team at Williams that this feels like a victory for us customers too. I Have not felt as pasionately committed to a wholesaler and there success in my life. Long may the new Williams and co succeed in its plans and continue to foster such exceptional customer relationships.
Click to expand...

Wouldn't allow me to edit original post so an edited quote shall have to suffice.
 
Last edited:
Upvote 0 Downvote
New posts
Status
Not open for further replies.

Reply to ZERO! Williams & Co sold in management buyout in the Plumbing Jobs | The Job-board area at PlumbersForums.net

Similar plumbing topics

J
  • Question
Boiler pressure on EcoTec keeps rising
Replies
7
Views
219
John.g
J
H
  • Question
Vailliant Boiler insanely hot water
Replies
1
Views
114
Last Plumber
Last Plumber
Back
Top