KBS FINDS “PERFECT FIT” FOR GREENGATES SALE

A family-owned independent builders merchants has been sold to Haldane Fisher in a deal overseen by Jay Singh, KBS Corporate Finance Director.

Greengates Builders Merchants, located in Accrington, has been trading from its site in Lancashire since 1987 and has grown to employ 18 people from the surrounding area, running three crane offload wagons.

Supplying building and timber materials to trade and DIY customers, Greengates was a natural fit for Northern Ireland-based Haldane Fisher, a builders and plumbers merchants which is expanding its presence in northern England.

Steven Pickup, Managing Director of Greengates, was seeking to retire and instructed KBS to orchestrate a sale – for which Richard Stocks, Senior Research Analyst, quickly saw considerable potential.

“Given the recent consolidation within the builders merchant sector and the strong regional presence Greengates has, we generated significant trade interest in the opportunity,” said Richard.

“This came from companies that already have a North West presence and parties looking to move into the region.

“This has become a market where the scope to expand with the opening of new sites has become more limited, and high-quality independent merchants, such as Greengates, will continue to command strong interest from parties looking to expand their footprint.”

Following a healthy level of interest in the opportunity, Haldane Fisher was identified as the ideal acquirer and Jay Singh presided over a sale that suited both parties particularly well.

“Greengates was a perfect strategic fit for Haldane Fisher, both in terms of product offering and also in terms of location,” said Jay.

“Steven has built up an excellent business with a reputation for holding good stock levels and delivering on time.

“The transaction allows Haldane Fisher to continue with their growth plans and for the shareholder to start their exit journey.”

Steven Pickup is to remain involved with the business for a period post-completion to help with the handover.

“It was a pleasure to advise the shareholders and bring the transaction to a successful conclusion,” added Jay Singh.