KBS DRIVES HOME SALE OF READING VEHICLE PARTS SPECIALIST

KBS Corporate’s Oliver Rigby has overseen the sale of Reading Commercial Spares to vehicle parts retail group Picksons.

Reading Commercial Spares was founded in 2004, supplying truck and trailer parts to commercial businesses throughout its region. The three shareholders – Mike Keirle, Steve Thatcher and Joanne Thatcher – offered the company for sale as part of their retirement plans.

The opportunity attracted strong interest and an offer was accepted from Picksons, an independent, family-run business which began trading in 1979.

Picksons has six branches selling truck, trailer and bus spare parts and accessories in the Midlands and South West of England and, via its subsidiary Fleetwheel, five in South Wales.

By adding Reading Commercial Spares to its portfolio, Picksons will further strengthen its presence along the M4 and M5 corridors.

“The shareholders of Reading Commercial Spares wanted to facilitate their retirement plans and were ready to take a step back,” explained Oliver Rigby, KBS Corporate Deal Executive.

“Mike and Steve are to remain as employees but the sale to Picksons reduced their workload.

“I’m extremely satisfied to have completed this deal.”

Oliver praised the roles played by KBS Corporate colleagues Connor Gregory-Dorsey and Jamal Forbes, Corporate Finance Analysts, in securing the sale of Reading Commercial Spares.