Wilcox becomes part of the TVS Group!
Published 05 July, 2021
Total Vehicle Solutions (TVS) Group is delighted to announce the acquisition of Wilcox Group Limited, trading as Wilcox Commercial Vehicles (“Wilcox”). Wilcox is one of the UK’s leading manufacturers of aluminium bodies for rigid and tipping trailers and is the first acquisition TVS Group has made since its formation in 2019. Wilcox is also the exclusive Agent for CIFA Mixers in the UK.
TVS Group consists of three of the UK’s leading specialist manufacturing firms that deliver solutions for the commercial and industrial vehicle industry, including SB Components, Priden Engineering and McPhee Mixers with Headquarters in Wisbech Cambridgeshire.
The acquisition strengthens and adds to the Groups Market position in the UK and Europe creating increased cross selling opportunities and the ability to share facilities broadening reach, resource and technical expertise.
Wilcox operates out of a 43,056 sq. ft factory based in Market Deeping, Peterborough, and employs 100 full-time staff. The business will continue to be led by Vito Ronzano, and Chris Bartlett who have owned and developed Wilcox since 2000.
The TVS Group is owned by Elaghmore, the UK-based private equity firm, and has annualised revenue of £45 million. Each company in the Group shares similar attributes, such as high levels of technical expertise and best-in-class customer service in their respective industries.
Craig Harris, Executive Chairman, TVS Group said: “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.”
Vito Ronzano, Managing Director, 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.”
Michael Rice, Investment Director, 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.”
About Total Vehicle Solutions Group
Total Vehicle Solutions (TVS) Group is the creation of Elaghmore, the UK-focused private equity firm. The goal of TVS Group is to enable the growth and commercial development of high-end, specialist manufacturing firms that deliver solutions for the commercial and industrial vehicle industry.
TVS Group comprises:
SB Components – Based in Wisbech, Cambridgeshire, SB Components is one of the UK’s leading supplier of bespoke components for commercial vehicles. SB Components is comprised of a number of divisions, aimed at meeting the needs of a range of customers within the Commercial Vehicle Sector for the design, manufacture, including fitting of a wide range of commercial vehicle bodywork, to suit chassis from 3.5T to 32T, using proven designs, which combine strength, durability and weight saving.
Priden Engineering - one of the UK’s foremost engineering companies, also based in Wisbech, Cambridgeshire. Priden delivers bespoke engineering solutions including rigid bodied vehicles to full trailer configurations to major companies within the Pneumatic Vehicle industry across the animal feed sector.
McPhee Mixers - a prominent UK designer and manufacturer of truck-mounted concrete mixer units, based in Glasgow, Scotland. The business is well-established as the leading UK supplier of Concrete mixers to the construction and quarrying industry.
TVS Europe - with its sales outlet and service centre based in Barneveld, Netherlands, TVS Europe is focused on offering the Groups’ complete product range to both its European dealer network and end customer base.
Each company shares similar attributes, such as high-levels of technical expertise and best-in-class customer service in their respective industries. The businesses operate independently under their own management but by being part of the TVS Group, they can cross-sell products to the combined customer list, share facilities across the UK to broaden their reach as well as share best practice and technical expertise.
Elaghmore was founded in 2012 by David Manning and Andy Ducker. Based in Leamington Spa, the team has a strong track record of investing in and successfully growing UK businesses, largely through operational transformation including Chaucer Foods and St Neots Packaging. In December 2016, Elaghmore launched an initial private equity Elaghmore I (Fund 1) raising £60 million. In December 2020 the fund raised an additional £30 million from US institutions to create Elaghmore Fund 1A. The investment strategy of the Fund is focused on UK-headquartered businesses that present a significant opportunity for growth and value creation.