A BRADFORD manufacturing firm is aiming for record growth following its takeover by the long-standing managing director.

Victor Manufacturing, a leading food service and retail equipment supplier, has announced new ownership following a management buyout by managing director, Phil Williams.

Mr Williams, who is the current managing director of the firm and has been with the company for almost 20 years, took the decision to take over the business when the Mrs J M Mountain Will Trust opted to sell the manufacturing firm.

Victor Manufacturing has seen rapid growth over the last five years with turnover increasing from £5million to £9million. Following the takeover, Mr Williams has revealed ambitious growth plans to continue this success with a clear strategic goal over the next five years aimed at growing annual revenues to £20million.

Mr Williams said: “It is a really exciting time for Victor as we enter new markets and continue to grow our existing ones.

“Having been part of the company for almost 20 years, I am looking forward to working with the team to continue the great work we have become renowned for over the last 75 years.

“The new ownership will provide peace of mind to our staff, customers and suppliers that it is business as usual and with my new commitment as owner as well as managing director, they can be confident in a very strong future ahead.”

Significant new accounts over the last 12 months, along with being appointed the exclusive UK partner of leading US manufacturer, Duke, has had a positive impact on the company’s continued year on year growth.

This, combined with opportunities in the retail sector, will aid the manufacturer to achieve its ambitious growth plans over the next five years.

The management buyout was advised by the corporate finance team at Yorkshire accountants and business advisers, Garbutt + Elliott, led by partner, Richard Feltham.

Legal advice was provided by corporate partner Paul Johnson from the Leeds office of national law firm, Mills & Reeve; and financial funding was secured from HSBC UK to support the management buyout.

Victor Manufacturing specialises in the manufacture and supply of food service equipment to some of the UK’s largest companies and groups in a variety of sectors including education, care, public sector, hospitality, contract catering and retail.

Founded in 1944, its food service equipment is used for moving, storing or holding hot and cold food by a wide-range of organisations.

Based across three sites in Bradford, the business has a strong reputation for being at the forefront of advances in the food service equipment industry.

Victor Manufacturing’s products comprise standard off-the-shelf items ready for next day delivery, custom counters and bespoke one-off specials.

The firm employs 120 staff over its head office, manufacturing and distribution facilities in Bradford, with its headquarters at Gibson Street, off Leeds Road.