Cycling accessories brand, Weldtite Products Limited, has been acquired via a management buyout by Paul Davis, Managing Director, on 2 March 2021.
Davis has acquired the majority shareholding from the Bennett-Baggs family who have owned the business for many years. Weldtite has existed since the 1940’s and now offers a wide range of cycling related products that are sold across the globe. Many of their products are manufactured in the UK.
David Bennett-Baggs, who previously led the business, recruited and eventually handed over control to Paul three years ago as part of his own long-term retirement and succession plan. David will remain within the business until the end of 2021 as an advisor and helping with ongoing special projects.
David Bennett-Baggs said: “I’ve very much enjoyed my time in the Cycle trade, developing Weldtite and achieving continual growth over the past 40 years. I am delighted and confident that the company’s future will continue on this path with Paul at the helm and a terrific team behind him. I wish them all every success for the future.”
Since joining Weldtite, Paul has overseen a successful programme of targeted growth and investment in the brand’s product range, marketing and the manufacturing facilities based in Barton Upon Humber. Investment and renewed leadership efforts have led to a sustained and accelerated period of growth, creating ideal conditions for an MBO.
Paul Davis added, “The potential locked up in Weldtite is evident to anyone who takes the time to visits us. I am really proud of the experienced and growing team we have assembled, and I am eager to see the next stage of our brand evolution unfold.”
Additionally, this year sees Weldtite sign a sponsorship deal with Team DSM, the youngest team on the World Tour circuit. Based in the Netherlands, they have riders from across the world, making them a perfect match for Weldtite’s distribution partner network.
Jan Wermink, Head of Business Strategy, Team DSM, said, “When we met Paul for the first time, we liked his frank, no compromise attitude towards optimising product performance. His ‘can do’ attitude makes him great to work with and we look forward to working with Paul and the development team in Weldtite in the years to come”.