New era of growth gets green light for commercial vehicles maker in Market Deeping after sale deal
New growth beckons for a commercial vehicle manufacturer in Market Deeping after a sale deal was agreed.
Wilcox Commercial Vehicles, which employs 100 workers at its base in Blenheim Way, Northfield Industrial Estate, has just been acquired by the Total Vehicle Solutions Group, based in Wisbech.
The value of the deal has not been disclosed.
Bosses say the acquisition will pave the way for new growth for Wilcox and the further development of the Market Deeping operations.
Wilcox, which is one of the UK’s leading manufacturers of aluminium bodies for rigid and tipping trailers and operates from a 43,056s ft factory, will continue to be led by Vito Ronzano, and Chris Bartlett who have owned the business since 2000.
Mr Ronzano, managing director of Wilcox, said: “This is a significant milestone for Wilcox and we are excited to be joining TVS Group who can take our growth to the next level.
“We look forward to offering our clients even more services and products and pooling expertise and resources with other TVS Group companies.
“Chris Bartlett and I would like to thank the whole team at Wilcox for their continued hard work and dedication, especially over the last year, which has seen has us continue to deliver for customers to the highest standard, despite the challenges of the pandemic.”
Total Vehicle Solutions, which is owned by the UK private equity firm Elaghmore, is also home to industrial vehicle heavyweights SB Components, Priden Engineering and McPhee Mixers.
The company says the acquisition will strengthen the group’s position in the UK and Europe.
Craig Harris, executive chairman of TVS Group, said: “It is our intention that a very much business as usual approach will be taken at Wilcox.
“The business has been purchased with growth in mind and we will be looking to develop the Market Deeping Operation.
“All sites are happy to report extremely high demand and this is in no way a Covid related purchase.
Mr Harris added: “Wilcox brings another leading UK specialist manufacturing firm into TVS Group.
“It gives me great pleasure to welcome the highly skilled team led by Vito and Chris, who have led the business from strength to strength in recent years.
“We have had the pleasure of working with Wilcox on a number of occasions and know how highly regarded the business is in the industry.
“Wilcox will expand our customer offer as we continue to build the TVS Group as the leading player in providing manufacturing solutions to the commercial and industrial vehicle industry in the UK and Europe.”
Michael Rice, investment director at Elaghmore, said: “Wilcox is the perfect fit for TVS Group, delivering the key attributes we look for of high levels of technical expertise and best-in-class customer service.
“We have a clear growth strategy for the Group, and we are working ever closer with our fantastic customer base as we look to support their strategies in a commercial and technologically evolving marketplace.”