OWNERSHIP of a Wisbech-based Fenland firm is set to change hands after the company’s chief executive agreed a deal to buy out its president.
Steve Rawlins, CEO of Anglia Components Ltd, has signed an acquisition agreement with Bill Ingram, the President and majority shareholder, giving him full rights to buy all the Company’s shares not presently in his hands.
The transfer of ownership, agreed on Monday, is being arranged without the use of external funding.
Commenting, Bill Ingram said: “Since Steve Rawlins took over as CEO in 2006, Anglia has strengthened its position as the largest privately owned electronic component distributor in the UK. Steve and his team have increased the business by 40% over the last five years, posting consistent strong year on year growth despite the ups and downs of the market.
“They are to be congratulated on this outstanding achievement.
“I believe the company will continue go from strength to strength under Steve’s ownership.”
Steve Rawlins added, “I am excited about Anglia’s prospects in the current market, and delighted to have the opportunity to acquire the business.
“ We will continue to evolve and develop as the market and our customers’ needs change, but at the heart of the business is a superb and motivated team, who support an outstanding customer base in the UK and Ireland.
“Anglia has always been a great place to work and a great company to deal with, and that is something that won’t change.”