Mostly recognised as a commercial property investor, Wigley has developed a diverse portfolio of assets and shareholdings over its 60-year history.
To promote growth across its portfolio, it has established four new independent businesses.
Wigley will both support, and remain a major shareholder in each company, through Wigley Investment Holdings Ltd – a newly established investment holdings company. Wigley Investment Holdings is owned by The Wigley Group Ltd and chair Robert Wigley, whose father John started the business in 1964 as an agricultural plant hire company.
The four new business, not all wholly owned by Wigley, are:
- Waterloo Capital Ltd – strategic investment
- Virtus Property Services Ltd – property management
- Tetra Real Estate Ltd – asset management and development
- Tyto Contracting Ltd – contracting and construction services.
Tetra Real Estate will own and manage what was The Wigley Group’s portfolio of properties and is led by managing director Chris Parsons.
Tyto Contracting Ltd is the new name for Wigley Building & Development Ltd and is led by director Charles Hicks.
Virtus Property Services Ltd is the new name for Wigley Commercial Services Ltd, providing vacant property management, commercial drone services and other property services. It is led by directors Chris Parsons and Danny Leitch.
The Wigley portfolio also includes Pi Gibralfaro, a Spanish property company, along with leisure, hospitality and event space at Naunton Downs Estate Ltd in Gloucestershire.
Companies within the Wigley portfolio will continue to collaborate from the group’s headquarters at Stockton House in Southam, Warwickshire.
Business support services for each portfolio company will be delivered by the newly formed Wigley Connect Ltd, led by director Danny Leitch. However, each business will be managed independently, with oversight from an executive board at Wigley Investment Holdings Ltd comprising Robert Wigley, James Davies, James Ellerington and Claire Lynch.
Robert Wigley, chair of Wigley Investment Holdings Ltd, said: “Wigley has always evolved, from our beginnings as a highway contractor 60 years ago.
“As a result of that evolution, we enjoy shareholdings in a diverse range of assets, each with their own growth trajectories and opportunities. If we are to enable growth and capture value across our portfolio, it’s right that we empower independent leaders to take up the mantle, with the continued support and backing of the holdings company.
“We are privileged to be able to take a long-term view of growth, in the interests of our people and our shareholders. The next phase of our evolution will drive our success over the next 60 years and beyond.”
James Davies, chief executive at Wigley Investment Holdings Ltd (and whose father Gordon helped start the business with John Wigley), said: “We have looked carefully at where we are now, as a business, and where we want to be over the next 10 years and beyond. It’s become clear that we have evolved from a property company into a business which invests in, and oversees, a diverse portfolio of assets and shareholdings. It’s the right time to organise and position ourselves to capitalise on this.
“By better focussing our assets across a portfolio of independent businesses, with empowered leaders, we can drive growth, create opportunities for our team, and continue to work positively with our customers, partners, and supply chain.
“The new leadership teams we have in place are experienced, trusted, and highly capable. We look forward to supporting their strategic plans over the coming years.”
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