XYZ Machine Tools began life 32 years ago with just £3000 of capital. It has since, under the guidance of managing director Nigel Atherton, grown into a £30 million plus turnover business, and what is probably the largest supplier, by volume, of CNC machine tools in the UK. Now, the business is again benefitting from investment from Nigel Atherton as he takes back the reins of the business he founded.
When in 2006 Nigel Atherton was approached by Southwestern Industries, the manufacturer of the ProtoTRAK control system with an offer to buy the business, it made perfect sense. Now, ten years later, the opportunity to buy back ‘his baby’ was also too good to miss, and effective from 13th June 2016 the business will revert to the ownership of Nigel Atherton.
“The deal with Southwestern Industries in 2006 was perfect for the business as it gave us the backing of not only a significant owner and partner, but the business retained a large degree of autonomy. In effect not much changed to the outside world. Throughout these ten years I have retained my enthusiasm for the business and when presented with the offer to buy back the business it didn’t take me very long to say yes. At 54 years old I have no intention of retiring and now that XYZ is back fully under my control I am going to be like a dog with a bone and, along with the fantastic team of people here at XYZ drive the business forward,” says Nigel Atherton.
The relationship with Southwestern Industries, the manufacturer of the ProtoTRAK control system that revolutionises the way companies manufacture one-off and small batches, will continue as before. This, along with interesting additions to the range of machines available from XYZ Machine Tools, means that exciting times lay ahead.
(Above) The XYZ team is looking forward to exciting times under the renewed ownership of Managing Director Nigel Atherton.