Omega PLC was founded in 1992 by Bob Murray, Francis Galvin and Newton Winfield. The objective of the founders was to establish a major home improvements manufacturing business on a freehold Greenfield site in Yorkshire.
The Company, Omega International Group PLC, was incorporated in order to effect the re-financing of Omega PLC through acquisition and to facilitate the purchase of a 16.2 acre freehold site for the development of the customised manufacturing plant. The site is located on what was a greenfield site adjacent to the M18 motorway and accommodates some 315,000 square ft of factory space. The first phase of the development was completed in the summer of 1996, creating a manufacturing office and showroom complex covering over 115,000 square ft.
As a result of the success of the Sheraton kitchen range, the Directors decided to focus the Group's strategy solely on the manufacture and distribution of branded kitchens, resulting in the disposal of two small non-core divisions. This strategy principally focused on the expansion of the successful Sheraton kitchen brand that was first introduced in 1996.
During 2002, the Group embarked on the second phase of its development programme. This involved the expansion of the Group's factory production facilities to meet the increasing demand for Sheraton kitchens and to allow the Group to expand further into the larger ready-to-assemble kitchen market with the launch of two brands, Omega Kitchens and Chippendale Kitchens. The Group invested a total of £2.8 million during this phase of development.
On 13 April 2004, Omega International Group plc was admitted to the Alternative Investment Market of the London Stock Exchange. This achieved one of the Company's long term objectives and allowed the Company to restructure its share capital, redeeming all remaining preference shares and associated dividend liabilities.
In 2006, the Group commenced construction on Phase III of the site development which increased the factory complex to 315,000 sq ft, providing significant future manufacturing resources. The extension has been funded by cash balances and operating cash flows. An additional, 5,500 sq ft of previously built office space has also been fitted out in order to accomodate the staff that will be needed to service growth plans.
In 2007, the Group purchased additional land adjacent to the existing manufacturing facility which will provide an option for an additional 95,000 sq ft of factory space and increasing the total site aree to 21 acres.
In 2008 the Group launched Charles Rennie Mackintosh, a new rigid brand consisting of true in-frame kitchens and ultra-modern designs aimed at the upper end of the market.
In December 2008, the independent directors of Omega International Group PLC and the directors forming a management buyout team (including Bob Murray, Francis Galvin & Newton Winfield) agreed an offer for the MBO team to acquire the entire share capital of the Group. The offer became unconditional in January 2009 and the Company was subsequently de-listed from the Alternative Investment Market of the London Stock Exchange. The directors believe that the interests of the employees and other stakeholders are best served with the company back in private ownership, maintaining its position as a leading independent designer, manufacturer and marketer of quality kitchen furniture.
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