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    Encon management buy-out team acquires ownership of Encon Group from Wolseley UK.

    31st October 2011

    We are delighted to announce that the Encon group of businesses has changed ownership from Wolseley UK to a management buy-out led by Stuart Moore, CEO, with immediate effect.

    The Encon group of businesses includes Encon Insulation, Nevill Long, Gill Insulation & PFC Corofil. We operate through a national network of 24 locations, employing around 560 people. In the year ended July 31, 2011, our turnover was £194 million.

    As you may be aware, Wolseley UK announced the potential sale of Encon on 25th July, having taken the decision that the market in which Encon operates is no longer part of Wolseley UK’s core strategic business activities.

    On completion of the buy-out Stuart said: “As the new owner of Encon, I believe we have an excellent opportunity to drive the business forward, and I truly believe we have an exciting journey ahead of us”.

    In a message to customers he further added “I would like to reassure you that nothing changes for you. The Encon group of businesses remain committed to delivering the same high levels of customer service as always. The management team is committed to ensuring that customer service excellence remains Encon’s number one priority.”

    Steve Ashmore, Wolseley UK’s Managing Director said: “This decision has not been taken lightly as Encon is a sound and well-run business, but we believe it offers the best way forward for Encon and its employees under the leadership of Stuart Moore. It is also fully aligned to Wolseley UK’s strategic objectives to focus on being the best merchants in our chosen core markets.”

    Stuart has worked across a spectrum of roles within Encon for 24 years, using his experience, ideas, unbridled passion and proven results to work his way up to the role of Managing Director in 2008, successfully guiding Encon through tricky market and economic conditions.

    We hope you will join us on what will prove to be an exciting and rewarding journey for all customers, suppliers & employees.

     

    For further information please email [email protected]

     

    Tags: encon, sold, sale, wolseley uk sells encon, wolseley,