Former Rainbow International Master Franchisee Melvin Lusty and Sean Derrig, who was previously National Franchise Director at Snap-on Tools, were the public face of the takeover group. The third partner in the group has now been announced as Nick Stojic, who leaves a position at McDonald's as National Franchise Manager.

'Taking an equity stake in such a well established and successful business as Chemex was an opportunity I could not pass up,' reveals Nick. 'I'm very much looking forward to working with Sean and Mel and the team at Smethwick, and am looking forward to helping grow the team, the network and the brand.'

The new ownership has revealed its target to double the company's turnover within the next five years. 'We'll be disappointed if we don't do it in three,' comments Melvin. 'We are looking to achieve this by both growing the businesses of our established franchisees, and growing the franchisee network.'

Chemex currently has 88 franchisees in operation, and the company has established Master Franchisees in Cyprus, Malta, Denmark, Belgium, Luxembourg and Ireland. 'Our focus will be on developing the UK and we are looking to assist a number of franchisees to make the transition from 'man in a van' operations to multi-van management franchises,' comments Sean. 'We are also looking to achieve total network completion. To do this we need individuals with management backgrounds, who have experience of dealing with employees and ambitions to build a businesses.'

Published: 19 September 2006

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