NENE CAPITAL ACQUIRES CAST STONE SPECIALIST

KBS Corporate has advised on the sale of a quality cast stone products manufacturer to SME investment specialist Nene Capital.

Nottinghamshire-based Serene Stone boasts a wide range of quality architectural cast stone dressings and concrete solutions.

Founded in 2011, the company has been involved in the design and supply of stone materials for highly bespoke projects across the luxury housing and commercial markets.

Guy Haynes, KBS Corporate Director who oversaw the sale, said: “Serene Stone is a strong, very consistent business operating successfully in a niche sector.

“The business has maintained considerable growth with a skilled management team, which proved to be very attractive to potential buyers.”

Since its inception, Serene Stone has been led by Christopher Patrick and Paul Millhouse. Due to changes in personal circumstances, the shareholders believed it was the right time to step away from the business.

Nene Capital has finalised the acquisition of Serene Stone and will look to accelerate the business’s growth trajectory over the coming years.

Primarily investing in UK-based SMEs, Nene Capital concentrates on realising long-term value and maintains an active role in commercial operations to support the delivery of strong financial outcomes.

Guy said: “While Chris is ready to be rewarded for his time developing Serene Stone, Paul will partner with Nene and offer the technical support needed to facilitate a smooth transition.

“We’ve been able to secure a great deal in a short space of time, ensuring Serene Stone can continue developing at the forefront of a niche market.”

Stephen Bayliss, Managing Director of Nene Capital, commented: “We believe in the tremendous potential of Serene Stone and are committed to supporting its growth trajectory.

“Creating value on a risk-adjusted basis remains core to our investment philosophy. Together, we aim to unlock market opportunities, enhance customer value and drive sustainable long-term success.”

Simon Stringer, Finance Director of Nene Capital, added: “The historical focus of Serene Stone on quality and delivery has allowed it to establish strong underlying financial and trading performance. These characteristics make it an exciting addition to our growing portfolio of SME businesses.”

The transaction was supported by solicitor Andrew Fielder of Banner Jones.