Management buyout at Watts Tyre
October 27th 2009 Watts Tyre Group has been acquired by Premia Group - a consortium led by the firm's senior management: Jean-Paul Mindermann, Paul Morey and Andreas Karnein were chief executive, finance director and technical director respectively.
The company will continue to trade under the Watts name, and marketing manager, James Pick, told HSS that the buyout will not affect service operations.
"At a corporate level the move is incredibly significant, but at a day-to-day level literally nothing will change," said Pick. "We have continuity of service, continuity of people and remain financially very robust and stable."
"It's a very positive move and a good time to be here," said Pick. "Our intention has always been to be at the cutting edge of the materials handling industry, and in that respect, 2010 should be a good year."
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