Anderson Shaw business brokers is pleased to announce that it has advised the owners of this Midlands-based Fabrications Business Specialising in Larger Mezzanine Floors company on its sale in Feb 2023. The majority shareholder, had acquired the business in February 2004, after it had been trading for about a year. It sold small/medium sized floors but during the recession of 2008 found it difficult to compete with larger competitors who predominantly install cheaper braced floors. The company changed to specialise in the more expensive, unbraced floor design.
The sellers approached Anderson Shaw in November 2019 to have initial discussions around the potential sale of the business. With the anticipation of several new major contracts it was decided to wait a while before commencing a sale. After also considering other brokers Anderson Shaw was appointed in September 2020 to advise on the sale.
The business was in an enviable position where it is well-regarded in the industry and by its customer base. It has low overhead costs and a reliable supplier base. This has been achieved with limited marketing effort and the company has provided a comfortable living to the owners of the business. However, there was plenty of scope for expansion and reinvention for an enthusiastic new owner. After 19 years in charge and having weathered a serious recession in 2008/9 and then the Covid pandemic the majority owner wished to step down and the minority shareholder would like to move on to pastures new.
Peter and Richard worked with the sellers to produce a detailed Briefing Document and the business was initially marketed in Summer 2022. After meetings with several interested parties agreement was reached with one for a sale and after some negotiations the final Heads were entered into in October 2022, with the sale completing in February 2023, some 4 months after the Heads were signed.
From appointing Anderson Shaw to sale took just about 18 months.
The sellers were delighted with the sale and commented “I engaged Anderson Shaw in 2020 to sell my business for me, following a recommendation from our Accountants. Peter and Richard were very professional and delivered really good levels of support to firstly put a very good sales document together, then search for potential buyers and help us through to an eventual sale. The process did have its' up's and down's and, as Peter had advised to start with, did take longer than I anticipated, but Anderson Shaw's guidance throughout the process was invaluable to getting the deal done on terms that worked well for me. The sale finalised in early 2023 just over 18 months from when they first started marketing the Company.”
The Anderson Shaw team was led by Peter Wilson and acted as corporate finance advisers to the shareholders.