Takeover sees WSL reach £20m target

Wheel Solutions, based in Hednesford and a specialist in wheels and tyres, had targeted £20m as its 2020 turnover.

It has hit its target with the takeover of Gateway Chassis, a Kingston upon Hull manufacturer of steel chassis, for the caravan holiday home and park home sectors.

The deal was completed on November 7 and Gateway Chassis joins the Wheel Solutions Limited (WSL) group of companies, which also includes TyrePal, Chassis Solution and Wheel Solutions. The group now employs 110 people in three sites across the UK.

The business has been acquired from Point Engineering (Hull) Ltd, which will remain a key supplier to Gateway Chassis and the industry overall.

WSL expects both companies to continue servicing their existing geographical and vertical markets to the high standards they have delivered until now.

"This brilliant acquisition will push our group turnover past the £20m mark, well in advance of our target – which was to achieve that landmark by 2020," explained Steve Budding, managing director of WSL. "The purchase complements our existing group, particularly Chassis Solutions, which specialises in chassis for the park home sector in Northamptonshire."

The group will not be re-branding its latest acquisition; nor will it be downsizing any of its companies in any way. In fact, the company expects to increase its workforce by ten percent, including several apprentices, in the next 12 months. There will be no consolidation of its sites and both will receive short and long term investment.

"This move represents our third significant acquisition in three years. Our progress, from a £6m turnover business when the 2008 recession hit, to our current status is genuinely remarkable. But it's not the end, we are still acquisitive and we are very focussed on organic growth in all four of the companies and across the group," said Mr Budding.

"Point Engineering Group acquired Gateway in December 2008 and moved production from Gilberdyke to Hull in 2009," explained Jonathan Rollison, joint owner and director of Point Engineering.

"Since then the company has grown year on year and now employs 60 people manufacturing quality steel chassis. The company has more than doubled in size during its time with the Point Group, and joint owner and director Steve Norton, myself and the other members of the management team believe this move will benefit employees, customers and suppliers as the result of new investment and drive from Wheel Solutions," continued Rollison.

"Both directors of Point Group wish to thank all those people who helped influence positive change and offer their best wishes to everyone involved in the Gateway Chassis Limited journey," concluded Rollison.

Ian Chamberlain, the general manager of Gateway Chassis will become director of the Wheel Solutions Chassis Division, ensuring a natural and sustainable development across the business.

Andy Buchan, production manager at Gateway Chassis and Claire Tindale-Smith, customer and commercial support, will both also be promoted, creating further stability in the company's existing structure.