EuroWire March 2024

Corporate News

One-year MBO anniversary draws to £17.9mn close

of exotic alloys in just three weeks.

Export successes, security of supply and making every member of the business a shareholder have been just some of the highlights of a record-breaking year for Alloy Wire International (AWI). The UK-based manufacturer of round, flat and profile wire has delivered £17.9mn of sales since a management buy-out (MBO) twelve months ago – a near £5mn rise on the same period in 2022 and £3mn above anticipated revenues. The senior management team of managing director Tom Mander, finance director Adam Shaw and technical director Andrew Du Plessis have put the expansion down to a resurgence in oil and gas and aerospace volumes returning since the pandemic, plus ongoing growth in automotive and new opportunities in R&D and space exploration. They have also underlined the growing importance of AWI’s commitment to a 400-tonne stockholding in material and its ability to supply a 60-strong range

“The last year has surpassed all of our expectations and capped a tremendous twelve months since we completed the MBO,” explained Mr Mander, who has worked in the business since July 2005. “One of the first things we wanted to do when we took over was extend the employee ownership model to every member of staff, meaning all of our 33-strong workforce at the time became shareholders in the business. “This really set the scene and ensured everyone knew we wanted to take them on the journey with us, and they have responded by producing a record year of £17.9mn sales.” Mr Mander continued, “There has been strong domestic growth, but that has been outstripped by demand from overseas, with AWI material now sent to

AWI’s factory

more than 65 different countries – often beating off competition from low-cost rivals.” Alloy Wire International manufactures round, flat and profile wire in 60 exotic alloys, such as Inconel, Monel, Hastelloy, Nimonic and Waspaloy. It supplies 6,000 customers across 15 different market sectors. A £1mn investment drive will be completed this year to strengthen its market position, with the installation of new wet drawing and single-hole dry drawing machines, as well as an annealing line spooler. Alloy Wire International www.alloywire.com

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March 2024