CDW six launch MBO
November 2017

Gloucester-based aluminium window and door manufacturer/supplier CDW Systems says it’s ‘business as usual’ after announcing a management buyout of the £10million-sales company by the senior management team of Richard Smith, Angela Phillips, Jeremy Phillips, Allan Little, Martin Rowe and Mike Davis.

The six have formed a new holding company, East Manor Group which will manage its three operating companies, CDW Systems Ltd, Clearway Doors & Windows Ltd and Designex Cabinets Ltd.

The MBO comes one year after Mike became Managing Director at CDW and he is quick to emphasise that although the company has been purchased from its Group Chairman, Jerry Webb, the new owners don’t intend to make any changes operationally to how the business is run on a day to day basis and Jerry will continue to be active in the business. 

Mike said: “The management buyout marks the beginning of the next chapter in the company’s history but we also want to stay true to our company’s long-standing values and standards.

“The six of us have purchased the company from Jerry but we are not planning to implement any major changes. Jerry will remain an important part of the business as a non-executive chairman and we look forward to continuing to benefit from his advice and extensive knowledge of the industry.”

Jerry Webb added: “I’m very pleased that CDW Systems has passed into such experienced and dedicated hands. In my new role, I will continue to meet with customers and suppliers. Since the MBO in late September, I feel I’ve been even more actively involved in the company than I have been in recent years, so I don’t see myself slowing down anytime soon.”

Handelsbanken and law firm Harrison Clark Rickerbys supported the MBO.

www.cdwsystems.co.uk

Pictured, Left to Right: Angela Phillips, Jeremy Phillips, Mike Davis, Richard Smith, Martin Rowe and Allan Little