Anderson Shaw business brokers is pleased to announce that it has advised the owners of this Midlands-based Environmental products and services company on its sale in May 2023. The sellers, two brothers, formed the business back in 1999 and were seeking early retirement opportunities, approached Anderson Shaw in Spring 2021 to seek the sale of their business.
This long established business operates across the United Kingdom and has an excellent track record. It is well-respected in the marketplace, manufacturing and supplying good quality products and providing reliable service. The company has a flexible, small, dedicated team, who provide innovative solutions to its customer’s requirements.
The Company had shown stability in profits and sales over the years, operating without any significant debt, and funding itself from its own cash generation. Sales were c.£2.1M and adjusted EBITDA close to £400k.
Peter Wilson worked with the sellers to produce a detailed Briefing Document and the business was initially marketed in Summer 2021. After meetings with several interested parties agreement was reached with one for a sale and Heads were entered into in November 2021. A detailed DD process was then undertaken during the first part of 2022, unfortunately funding issues around the freehold property within the business caused this sale to collapse and the business was then re-marketed.
Agreement was then made with of the original interested parties and revised Heads were agreed in November 2022. A further round of DD was then completed and the sale successfully took place in May 2023.
From initial contact to sale took an elapsed 24 months, but this did include the aborted sale; without this the time to sale would probably have been just over 12 months.
The sellers were delighted with the sale and commented “We have very bittersweet feelings now that the sale has completed, on the one hand pleased that we have achieved a very good sale of the business, on the other feeling of loss at no longer having the business that we set up and ran for over 20 years. We would certainly recommend using Anderson Shaw for any seller who is looking to sell their business and we are pretty sure that without Peters’ help this process would probably not have been successful.”
The Anderson Shaw team was led by Peter Wilson and acted as corporate finance advisers to the majority shareholders and freehold owners.