FW Thorpe nears Mackwell sale
FW Thorpe is in "advanced" negotiations to sell Walsall-based Mackwell Electronics to management, the company revealed this morning (22 September 2011).
The business is currently in talks with Mackwell's sales director Nicholas Brangwin after electing to focus its efforts on lighting fittings and control systems.
"Mackwell needs to and will continue to tailor its range more towards emergency LED control gear, luminaires and systems and needs to be free to do so," said FW Thorpe.
"Separating Mackwell from the group will, further, allow other group companies to devote their efforts simply to pure lighting matters."
The company also revealed an increase and profit and turnover for the year to 30 June 2011.
Revenue was up by 12 per cent to £52.8m, while pre-tax profit rose by 8 per cent to £11.6m.
During the year FW Thorpe bought Portland Lighting for £2.5m, with potential additional payments dependent on performance.
