Two business partners believe their total of 85 years of industry experience will prove to be a winner for their new start-up company in the Black Country.
Vic Waddison and Allan Stennett, who are both from Wolverhampton, have formed Victory Fasteners Ltd, stock holders and distributors of high grade alloy and stainless steel industrial fasteners, at the Dunstall Hill Estate, Wolverhampton.
They have taken a 5,032 sq ft unit which was refurbished at a cost of around £120,000 by the estate’s owners and managers, London and Cambridge Properties Ltd (LCP), to include office redecoration and new heating and lighting. Victory Fasteners will formally launch in December after visiting potential customers in the coming weeks.
Vic said: “Allan and I recently resigned from our previous positions, those companies now being owned by private equity. We made the inevitable decision to form our own company and this will be the third company we have started together. The business will employ five people from the start date, including my wife Carole as Company Secretary, and we will aim to double this within the first year.
“Our business will concentrate on selling to the distribution trade across the UK and Europe. We understand and respect both the quality and Integrity of the products that we will stockhold. They are sourced from Quality Assured sources with manufacturers and relationships that have stood the test of time.”
The partners decided on Dunstall Hill after looking at 13 estates. They wanted a base in the Black Country because of its proximity to sub contract engineers and the processes required for their products.
“I particularly liked this estate and the unit was by far the best quality and had a nice feel. It is clean and tidy and provides the right environment to grow the business,” Vic added.
He continued: “Everyone keeps saying it is a tough time to start a business, but they have been saying that for some time. The principles of a sound business model don’t change; the market may be up and down but quality, integrity and service always wins through in any market.”
The Dunstall Hill Estate is just one mile from Wolverhampton city centre with the M54 motorway two-and-a-half miles away, giving access to the M6 and wider national motorway network. The estate also benefits from CCTV estate security.
It has a range of industrial units available for rent from 2,447sq ft to 13,810 sq ft.Owner LCP is one of the UK’s largest private owners of industrial, retail and office property to let. Its total commercial property portfolio runs to more than 14 million sq ft which is held for long term investment purposes.
