MBO for historic Stockport firm

Reddish-based Boole’s Tools & Pipe Fitting Limited is under new leadership following a management buyout (MBO) by the firm’s Finance Director, Operations Director and Managing Director of its parent company, Seville Holdings Limited.

Acquired from husband and wife, Terry & Tracy Seville, the importer and stockholder of steel tubes and pipe fittings was established in 1960 and now has Vicky Grimley, Ryan Seville and Michael Whitehead at the helm.

Originally founded as a family business in 1960, Boole’s has grown from a small fledgling company into a multi-million-pound organisation and was purchased back into the Boole’s family by Terry & Tracy Seville, Daughter and Son in Law of the original founder, from Grafton Group (UK) plc in 2018.

With over 40 years combined experience at the firm, the trio are looking to continue the company legacy of quality service and professional expertise whilst simultaneously targeting new clients and taking the business to the next level.

Christian Mancier, partner at Gorvins Solicitors, who acted for the management team on the management buy-out, said:

“With over 60 years of trading here in Stockport, Boole’s is one of the true hidden gems of the Stockport business scene. The company has grown steadily over the years and decided that the time was right to reign in a new era through the existing management team. Helping a fellow Stockport based business to enter a new era whilst working with other Stockport based advisors is a particularly proud moment for us and we wish the new owners every success.”

The deal value is undisclosed, with funding provided by HSBC. Addleshaw Goddard advised the lender, Louise Hebborn at Stephensons Solicitors and Jeremy Cole of Cole Associates advised Terry & Tracy Seville and Paul Whitney and Nathan Clark at Hallidays/Xeinadin Corporate Finance advised the management team.

The Gorvins team was headed by Christian Mancier (Partner – corporate) assisted by Gemma Lingard (Senior Associate – corporate), Joe kitchen (Paralegal – corporate), Paul Dowdell (Partner – commercial property) and Laura Crawford (Trainee Solicitor – commercial property).