A W Lumb, which operates from two large depots in Dewsbury and Tamworth, has been sold in a management buy-out (MBO) led by its current executive Chairman and Managing Director John Cureton.
Joining him in the MBO as Shareholders and Directors of the business are the existing senior management team of Trevor Jones, Mike Smith, Gavin McEntee, Martin Keay and Andy Roberts, who between them have over 150 years of service at Lumbs.
The business was founded by Arthur W Lumb in 1964 and has been owned by the family for over 50 years, although has been actively managed by John, Mike, Martin, Trevor, Gavin and Andy for the last 15 years, with the family now happy to step back from the company and watch it take the next positive step forward for the future.
Starting from a single depot, the family business grew to a £35m turnover company now with over 80 employees and a dedicated fleet of 23 vehicles. The Executive management team plan to build on Lumbs strong position in the marketplace to take the company forward in the coming years, to expand their regional presence beyond the current 50 mile radius around each depot.
John Cureton, Chairman/Managing Director at Lumbs, said: “This can only be great news for our customers, employees and suppliers. The deal isn’t about change; it’s about protecting the core values of the business, which have been in existence since the company was formed over 50 years ago. This MBO ensures the retention of the leadership team and enables a longer term strategic focus, which will ultimately help the business to achieve its ambitious growth targets.
“It’s about continuing to put the customer first throughout the lifecycle of the buying experience, from initial contact with our sales team, right the way through to the delivery of the products. These are the family values which the business was built upon and which we will continue to make our priority in the future.”
John added: “I am delighted to be working with the same key people on the senior management team, who have made us into the strong company we are today and that has the prospect and real desire to become a much bigger player within the builders’ merchant sector in the future. We are extremely pleased to pick up the baton from the Lumb family and we would like to take this opportunity to thank them publicly for this great opportunity given to us.
“We now look forward to continuing and developing our trade with both suppliers and customers, safeguarding and furthering the careers of employees who have spent many years with the company and, just as importantly, remaining as an independent builders’ merchant.”
The main image shows (left to right) Martin Keay, Gavin McEntee, Andy Roberts, Mike Smith, Trevor Jones and John Cureton.