Anderson Shaw business brokers is pleased to announce that it has advised the owners of CNC Solutions 2000 Ltd (“CNC”), on the sale of the Company to Consolidated Rail Ltd.
Based near Brackley and within the “motorsport corridor” in the Midlands, CNC has been trading for over 20 years and provides sub-contract engineering services to larger businesses in the Motorsport sector. It specialises in the manufacture of precision engineered components, supplying high quality products and services to many different markets and industries, principally the Motorsport sector. It also offers design capabilities. Having approved certification to ISO 9001:2015 registration for the manufacture of precision engineering components, a cornerstone of the business is its excellent production facilities; it is equipped with latest technology CNC machining centres with the most efficient software and cutting tools for optimum cutting performance on a variety of materials.
Andrew Biltcliffe, the founder and major shareholder of CNC said, “I started the business back in 1999, to provide specialist engineering services in the Motorsport sector, and in mid-2019, after 20 years running the business, I decided it was time to pursue other family interests I have. As an experienced engineer I had little expertise in the process of selling a business and sought out professional help to do so. Having researched several options I met with Peter and chose to work with him as he had some good experience in businesses of my size, and I was confident in what he was telling me. He did forewarn me that I would not enjoy the experience and he was dead right! Anderson Shaw found several potential buyers and I had meetings with them, and in December 2019, I agreed to sell to the eventual buyer. After some initial progress in early 2020, COVID-19 hit and caused a 3-month hold on progress; however, in May 2020 we progressed to the full-scale DD process and eventually completed the sale in early August 2020. There were some real up’s and down’s over the whole process and I’m pleased to say that Peter helped greatly in keeping things moving and providing some real support over the time with his calm and professional manner throughout. I would certainly recommend Anderson Shaw to anyone looking to sell their business due to the honest and reliable advice and general support Peter gave me.”
Anderson Shaw found the buyer quite quickly and, Heads of Terms were signed less than 6 months from its’ appointment. However, with the onset of COVID-19, progress was delayed, and it wasn’t until August 2020 that final completion took place, around 4 months after DD activity recommenced.
Andrew, who has a continued involvement in the business, is delighted with the sale which allows he and his wife to commence on plans in other business areas of interest they have as well as providing strong continuity and support to the business.
The Anderson Shaw team was led by Peter Wilson and acted as corporate finance advisers to Andrew and his family.