A manufacturing company based in the Black Country has taken a significant step towards employee empowerment by expanding its staff-ownership scheme.
Following a recent management buyout (MBO) led by managing director Tom Mander, technical director Andrew Du Plessis, and finance director Adam Shaw, Alloy Wire International has now extended its ownership scheme to include all 33 members of its staff.
Founded in 1946 and headquartered in Brierley Hill, Alloy Wire International specializes in the production of a wide range of wires, bars, and wire rope comprising over 60 different alloys.
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Its products serve diverse industries such as aerospace, nuclear, automotive, and medical.
The decision to transition to an employee-owned model reflects the company’s long-term commitment, which began back in 1999 when former owner Bill Graham realized a visionary plan spanning 23 years.
Graham put the employees at the heart of the business by granting them shares and the opportunity to reap the benefits of its growth.
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Since then, Alloy Wire International has experienced remarkable revenue growth, skyrocketing from £1 million in 2000 to £12.8 million at the beginning of 2022.
Projections indicate that this figure will reach £18 million by the end of the current year.
Mr Mander said: “Bill’s decision at the start of the millennium gave us a distinctive edge to our business and this was something Mark Venables took on when he led the previous MBO in 2013.
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“Working our way up in the business, we have seen first-hand what the employee-ownership scheme has meant and the sense of commitment and pride it brings.
