Business as usual’ following MBO

A management buyout (MBO) recently took place at Gloucester-based CDW Systems.

The existing senior management team of Richard Smith, Angela Phillips, Jeremy Phillips, Allan Little, Martin Rowe and Mike Davis has formed a new holding company, East Manor Group, which will manage its three operating companies including CDW Systems, Clearway Doors & Windows, and Designex Cabinets.

The MBO comes one year after Mike became managing director at CDW, and while the company has been purchased from chairman Jerry Webb, the new owners don’t intend to make any operationally changes.

Jerry will continue to be active within the business, reviewing the strategic direction of the company.

Mike said: “The management buyout at CDW Systems 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 said: “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.”