Braking components manufacturer Juratek has announced a management buyout, with three of its directors taking full control of the company. The buyout is the company’s second in three years, as Chairman Allan Hooks is stepping down from the role.
The Doncaster-based firm will now be run by Managing Director Matt Robinson, Sales and Marketing Director Toby Whewell, and Operations Director Mark Clegg. The change comes following the trio’s acquisition of the remaining shareholding from Hooks.
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Hooks, who is retiring after nearly two decades at the helm of the firm, said: “I have seen Juratek grow and develop into a well-respected aftermarket company both in the UK and Europe. Its commitment to quality in all areas of its business remain paramount to its trading ethos.
“After 20 years with the company I believe it is time for me to hand over the reins to the management team led by Matt Robinson, in whom I have full confidence.”
Hooks joined in 2001, having served as Managing Director at electrical components firm Veco for over six years, and Leeds-based parts store Vegem for three.
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Matt Robinson, who heads up the new management team, has been at Juratek since October 2014, when he was made General Sales Director. Toby Whewell and Mark Clegg join him in the boardroom, having spent a collective six years at the firm.
Robinson said: “We are delighted to have completed the acquisition of Juratek Ltd and have exciting plans to continue the growth of the company both in the UK and overseas markets.
“The company has seen a sustained period of growth and transition in the past 5 years and we are well placed to take advantage of the opportunities open to us.
“I was keen for Mark and Toby to join me in the management buyout, between us we have over 70 years’ experience in the Automotive Aftermarket, yet we also retain the energy and passion needed to drive the company to even greater success.”
Juratek’s 50-plus staff are not affected by the change in management structure.