Management buy-out of wheels suppliers agreed

A vendor-initiated management buyout of wheels and tyres suppliers, Wheel Solutions Ltd, has been successfully completed.

The business employs 23 staff, many who have been with the company for a decade or more, and operates from a 30,000 sq ft facility in Cannock, Staffordshire.

Newly appointed managing director Josh Budding has been working in key roles within the business for 12 years, so the change in the business structure is very much business as usual for the firm.

However, the buy-out, Josh says, represents a natural and seamless step forward for him in heading up the firm formally.

He works closely with the customers and suppliers, and on strategic innovation, so although he will keep a clear overview of the business, he leads on the commercial side, procurement, sales, and supply chain management.

Josh (pictured) is being supported by Kerry Hibbert as operations and resources director, with Wheel Solutions ' founder and previous owner and managing director Steve Budding stepping into a supporting role of chairman.

A family-led business, Wheel Solutions say its ethos has always been of working closely with their customers, suppliers and stakeholders to help ensure every need is anticipated and met swiftly to keep businesses moving without interruption.

Josh explains: “Understanding our customers ' needs is a fundamental part of our business, as is anticipating the inevitable challenges within the global supply chain arena.

"Strategically planning ahead with these two major considerations in mind enables us to ensure our customers are met with guaranteed consistency of supply, even in times of severe supply chain volatility. ”

Kerry added: “We plan and manage ahead by our nature, and have always done that. For example, we had a dedicated task force planning ahead for Brexit since the moment it was announced, and have been working on new software implementation for some time which is now set to make our customer experience even easier. Seeing all that hard work pay off makes the job very rewarding. ”

Wheel Solutions was founded by Steve Budding in 1999, when Greyco merged with R H Claydon Wheel Division, which was based in Bury St Edmunds, to form Wheel Solutions Limited.

The sector has been a lifelong passion for Steve, who started his career in the wheels and tyres business at 18, George Hughes Ltd 's sales office in Birmingham, going on to become of the youngest sales directors in the sector at 24, before founding Greyco solo when he was 30.