Management Buyout to Build on "Outstanding Achievement" at Hammer
Feb 16, 2005 Comments (0)
Over the past 13 years, co-founders and joint managing directors, Paul Sangster and Steve Easterbrook have built Hammer into one of the most successful storage-specialist businesses in the UK. Under their guidance and leadership, Hammer has performed consistently and established an enviable reputation for innovation and outstanding quality of service.
Sangster and Easterbrook have now decided however that the time is right to move on. "We built the business with this as a clear long-term strategic objective," says Sangster. "Having embedded a strong customer-oriented culture, and with staff of unrivalled quality and excellent customer and vendor partnerships in place, now is the ideal time to hand over to what is an exceptional new management team."
"We are both very proud of what we have achieved at Hammer," he confirms, "and have decided that for each of us the time is right to move on and explore new avenues."
Sangster has worked closely with new managing director, James Ward over the past nine months to ensure that the handover is as smooth as possible, with only a positive impact on vendors and channel partners.
Ward joined Hammer in 1992 and was previously general manager, storage products and solutions. Backed by a leading bank, he has put together a team of experienced Hammer managers to acquire a majority holding in the company and will be joined on the new board by Jason Beeson, Paul Matravers, Jason Goddard and Fritz Johnsen.
All the members of the new board have played a significant part in the company's impressive growth over many years. "In taking the company forward therefore, our goal is to build on Hammer's strong track record," confirms Ward.
"Congratulations must go to Paul and Steve on their outstanding achievement," he says. "The company's success is testament to their single-minded commitment to providing customers with a unique blend of unbiased expert advice, unrivalled technical skills and service excellence."
The emphasis is firmly on maintaining continuity and stability. Sangster and Easterbrook will each retain a significant share in the business and continue to be personally committed to Hammer's long-term future.