A Staffordshire-based electrical contractor is to be led by a new management team following a buy-in.
A Staffordshire-based electrical contractor is to be led by a new management team following a buy-in.
Rowley Electrical Distributors, which also operates across Cheshire and the West Midlands, has been bought by two former electricians.
Andy Tuff and Andrew Ruscoe acquired the company for an undisclosed sum. The duo plan to grow the business by increasing its turnover and staffing levels as well as to open new branches.
The deal is part of the succession plan of the company’s managing director, David Rowley. He has taken a step back from the day-to-day running of the business following the completion of the deal, but holds a shareholding in the business and remains a director.
Tuff, who becomes managing director, told reporters: “The electrical distribution sector is an established market where the majority of business is won on the reputation and service offered and we see Rowley’s service offering playing a major role in winning new business.”
David Rowley was advised on the disposal by Chris Cummings at Bentley Jennison. He said that he brought Tuff and Ruscoe to the deal as they were keen to own and grow a business. “Both parties knew one another, they were rivals.
“There was no need for technical support or specialists, what was needed and provided was a commonsense approach to a problem and a strong hand-holding role to ensure both parties achieved their respective aims,” he added.
Rowley provides electrical contractors and supplies the electrical and industry markets with a range of electrical accessories through to heavy industrial switch and control gear.
The company was established in 1990 and today has a £5 million turnover. It has more than 20 employees at its 15,000 sq ft site in Stoke on Trent.