CHAIR MANUFACTURER’S DIRECTORS SITTING PRETTY

Two existing directors of a highly successful manufacturer of electric “rise and recline” chairs are sitting pretty after engineering a management buy-out which secures the company’s future.

Wilcare Wales Ltd, which employs 27 people on the Vale Business Park at Llandow, near Cowbridge, is now fully owned by managing director Anthony Kiff and technical director Paul Howells after the buy-out from outgoing chairman and founding director Marcus Wilkinson.

The deal was put together with the help of professional advisors Broomfield & Alexander who advised on and negotiated funding from a variety of sources including property loans, factoring and a loan under the Small Firms Loan Guarantee scheme.

The directors of the company, which began life in Tonyrefail in 2001, now plan to develop the already successful business into supplying a range of electrically operated beds and other products that are in synergy with their core product range.

With a high quality dealer base supplying its chairs to the NHS, Social Services, private nursing homes and charities, the company’s success has been based on a decision – in contrast to its competitors – to manufacture a range of bespoke chairs to order.

Also, Wilcare holds a stock of some 200 chairs in a vast range of sizes and styles. In a market where such items are purchased for an individual with a specific height, weight and needs, it means they can respond to orders far faster and more personally than their rivals.

The directors hope to continue this success with its new range of four-section electric beds, which they will be importing from Germany in a move which sales and marketing manager Gordon Starkey said presented exciting opportunities.

“The market for aged and disabled support products in the UK is worth around £3.3 billion, and estimated to grow at 2% a year for the next four years,” he said.

“Our dealer base is certain to grow in line with the UK’s growing ageing population and with the grey market having high disposable incomes our chairs will be high on their shopping lists. We are confident that dealers will continue to purchase our unique range of chairs and they have shown a keen interest in our new range of beds and other products that are to follow in the not too distant future”

Broomfield & Alexander director Seamus Gates said the Wilcare Wales MBO was a good example of long-term exit planning.

“Marcus Wilkinson’s retirement plans and the business succession plans were well thought out and put in place several years ago, with Anthony Kiff working alongside Marcus to ensure a smooth transition” he said.

“Purchasing their new factory and office complex in The Vale Business Park, Llandow was also part of this long-term business strategy. The outcome is a great result for Wales – the right way to safeguard a family-run Welsh manufacturing company.”

Photo #1: B&A’s Seamus Gates (back left) and Katherine Smith join Wilcare Wales’ Paul Howells (back right) and Gordon Starkey (front) for a well-earned rest.

Photo #2: B&A’s Katherine Smith join Wilcare Wales’ Paul Howells (back) and Gordon Starkey for a well-earned rest.

Photo #3: B&A’s Katherine Smith join Wilcare Wales’ Paul Howells (right) and Gordon Starkey (left) for a well-earned rest.