New ownership for Wickes

Wickes, the US building materials and components supplier, has a new majority owner: the Riverside Group has sold a parcel of shares to Imagine Investments. This company now owns 51 per cent of the Wickes outstanding common stock. J. Steve Wilson, Chairman and Chief Executive Officer of Riverside, who has also served in the same capacity at Wickes since 1991, has now resigned his position at Wickes. Robert E. Mulcahy has been appointed as Chairman to head the management team at headquarters in Vernon Hill. In addition to its activities as a distributor of building materials, Wickes is also a manufacturer of building components.