Wondertex set for growth after MBO from Cemex
Published: 06 July, 2010
LITTLEHAMPTON: Drywall finishes and decorative texturing systems specialist Wondertex has passed into private ownership following a management buyout.
The business, based in Littlehampton, Sussex, has been acquired from Cemex by a group of private investors for an undisclosed sum.
The buyout comes 30 years after the company was first established and day-to-day business will continue to be managed by Gary Pierce, whose family was among the original founders of the company.
Wondertex has reverted to a private business following periods of ownership by multinationals Cemex and RMC.
Comments general manager Gary Pierce: “We believe there is considerable potential to develop the business in its own right, particularly with the continuing trend towards drylining as an internal walling solution. We are launching a major investment in re-branding to strengthen our visibility in the UK market.”
The company is currently undergoing a major re-branding programme and will market its drywall finishes under the Ultralight brand and its decorative finishing systems under the Wondertex name.