It’s full steam ahead at one of the UK’s leading industrial boiler and furnace companies following a management buyout supported by £750,000 of funding to ensure the survival of the historic business.
Wellman Group, in Oldbury, is now a new company called Robey-Wellman Boilers and Furnaces Ltd, following the MBO by Steven Price, Leigh Bryan and Peter Gibbs.
The three directors, who have decades of experience in the industrial steam boiler and furnace industries, say the name recognises the long heritage and engineering excellence of the Robey and Wellman brands.
Wellman Group called in the administrators in the summer after a dispute with a key international supplier could not be resolved following 18 months of planning and negotiations.
The business continued to trade for four weeks until the MBO was finalised, supported by £750,000 funding enabling the company to move forward.
Director Peter Gibbs, who has worked with Wellman companies for nearly 25 years, said the new company consolidated previous divisions of the Wellman Group.
“We are now one company and focused on moving full steam ahead, building on the long heritage we have here and also looking to invest in both R&D and engineering talent as we progress.
“However, what remains unchanged is Wellman’s commitment to excellent customer service. Our priority is to make sure our customers and potential customers are informed and engaged in what has happened in recent weeks, and reassure where needed that the company is already up and running and operating effectively.”
The new owners have vowed to build on Wellman’s reputation for traditional values, cost-effective solutions and impeccable service. Wellman has been based at the Oldbury site for more than 150 years.
Director Leigh Bryan said: “We are delighted that 55 jobs were secured by this MBO, and as we grow and invest in our products and services, we have no doubt that we will be looking to recruit the next generation of talent to contribute to another successful 150 years of Wellman engineering excellence.”
Wellman’s customers range from industrial steel processing giants such as TATA Steel to NHS Trusts, with more than 80 per cent of recent PFI projects at NHS hospitals across the UK opting for Robey-Wellman products.
For further information about Wellman, please visit www.wellman-group.com or call 0121 543 0000
