The corporate finance team at Stockport accountancy firm, Hallidays, has supported a family-run engineering firm to find a buyer to allow owners to exit the business.
Su-Fix Precast is a Hampshire based business, specialising in the design and installation of precast concrete floors and stairs for the construction sector. The firm’s owners turned to the Hallidays Corporate Finance team to support them to exit their £5 million turnover business and find a suitable buyer.
Hallidays identified a London-based independent investment firm, RD Capital Partners, as a potential buyer. Su-Fix’s owners, Jamie and Amanda Jewell had wanted to avoid selling to a direct competitor.
The Stockport accountancy firm worked with local solicitors, SAS Daniels, on the legal aspects of the deal and were able to guide the Jewells through the completion process. Sameer Rizvi, Founder & CEO, RD Capital Partners said of their experience of the sale process:
Hallidays are, by far, the most straightforward advisors I have ever come across. Paul Whitney and his team made the whole process completely pain-free. The information presented was well-organised. Paul [Whitney, Hallidays MD, pictured] was involved throughout the transaction to ensure all aspects of the deal process were moving harmoniously toward completion. He managed both buyer and seller expectations really well. Most importantly, Paul was physically present when everyone gathered in person at the Su-Fix premises to do the formal handover. Paul is one of the most commercially-astute financial and business advisors in the UK mid-market space.”
Following the sale, buyers’ management team will sit alongside the existing Su-Fix management team to facilitate the transition and drive the new group forward together. RD Capital have risen in value to over GBP 100 million and are looking forward to working closely with the team at Su-Fix to deliver continued growth.
Jamie and Amanda Jewell, having exited Su-Fix Precast, are now able to focus greater attention on their second business, a Southampton karate centre.