Spectus sold
Brian Kennedy has sold 40% of Spectus, which includes the UK and Europe divisions, to Ian Blackhurst, which means Spectus is now part of the My House Group rather than Latium.
The holding company has been renamed Spectus Manufacturing. Ian Blackhurst is chairman and CEO of My House Group, which includes Weatherseal, Zenith Staybrite, Job Worth Doing, My House Insurance, Space Kitchens, JWD Frames.
The Gl@zine understands that Sam Kennedy remains the MD of Spectus, and Ultraframe remains part of the Latium Group.
Ian has invested, with Brian, in businesses across wide ranging markets over the past 20 years; from professional sports with Sales Sharks, hotels and telecommunications to home improvements.
“Spectus is a well-run business with a great product and a great future,” explained Ian. “It’s a profitable, cash-positive business with considerable potential, but Brian felt it had even more potential and asked me what I thought. After spending five weeks looking at every aspect I agreed and took up his offer to invest. With a few small changes I could see it would be even stronger.
“Brian is a non-executive investor but I am always hands on and run a business with my team for the first three to six months, in this way I get to understand the detail. I’ll also work closely with our customers as it’s their insight that will help me to understand where we need to focus.
“After two months it’s clear to me that the factory is very well run, but we can still do better and we are already doing so with quality and efficiency improving.
“Both February and March were on target against budget. Spectus is performing well and meeting expectations in a difficult climate. We plan to improve the business and build on this base.”
Image Caption: Ian Blackhurst, chairman and CEO of My House Group, which includes Spectus Manufacturing
