After leading Customade through a successful refinancing process during the 2020 lockdown and restarting the new group David leng has announced he is stepping down as Group CEO.
David commented “As we come out of lockdown Customade Group is in good financial shape. Faced with the need for cash to restart the business after Covid, we had to restructure the business. After a huge refinancing process, when we reviewed all the options, we decided that Nimbus were the best choice to take the business forward. We restarted the business with real enthusiasm and support, and I am delighted with the progress we have made given how difficult industry supply has been in these unusual times.
We have moved factories, expanded capacity at every factory, opened new Stevenswood depots and closed some poor depots, hired new transport fleets, upgraded our IT systems, built new websites, launched new products, and improved both our quality and on time in full performance. How we measure our service performance is improving all the time. We now have a best-in-class credit control system and the business is in a good cash position.
As a result of all this hard work our customers and suppliers have remained loyal to us and we have a full order book. We are grateful to them all for their continued support.
Most importantly of all we have some very good people in place to keep up the momentum.
Having successfully led the business through such an intense period of major transition, I believe that this is a natural time to hand the Chief Executive reins over. I have decided, not without regret, to step down as CEO of Customade. I will remain a shareholder and firm friend of the business and look forward to seeing it grow from the strong base it now has.
The business has very supportive shareholders in Nimbus and in the meantime, Glen Sabin will pick up the overall leadership role until a successor is appointed.”
Nimbus are the majority owners of Customade Group. They are very experienced investors in manufacturing with a strong track record in supporting management teams to build strong, market leading businesses.
Alexander de Haas, of Nimbus, commented “We are pleased with progress in the Customade Group. David leaves the business in good shape and I would like to thank David for his contribution and wish him and his family all the best for the future”.