A property group has undergone a major reorganisation to create four new businesses.
Warwickshire-based The Wigley Group has historically been known as a commercial property investor and owner, developing a diverse portfolio of assets and shareholdings.
It has now launched a quartet of new independent businesses which Wigley will support and also remain as a major shareholder of via a newly established investment holdings outfit.
The businesses are Waterloo Capital, Virtus Property Services, Tetra Real Estate and Tyto Contracting which will collectively deliver investment, property management, asset management, development, contracting and construction services.
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The wider Wigley portfolio also includes Spanish property company Pi Gibralfaro and leisure and hospitality space at Naunton Downs Estate in Gloucestershire.
Companies within the Wigley group will continue to collaborate closely from the group's headquarters in Southam.
Business support services for each portfolio company will be delivered by the newly formed Wigley Connect however each business will be managed independently, with oversight from an executive board at Wigley Investment Holdings.
The company's roots date back to 1964 when John Wigley started hiring out his plant and farm machinery.
Robert Wigley, chairman and son of the company's founder, 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 of Wigley Investment Holdings, added: "We have looked carefully at where we are now, as a business, and where we want to be over the next ten 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."
