This Southport based company were acquired in a management buy in and the acquisition marks the first time in Railex’s 105 year trading history that the link will be broken with the founding Wilson family.
Originally established by Frank Wilson and his wife as WH Hilton in 1908, the £3.5m turnover group of companies is now spread over two sites. Railex Storage, based in Essex, produces a wide range of filing cabinets, mobile storage and bespoke storage solutions. Railex Filing is based in Southport and is a leading manufacturer of office and large format files, wallets and folders.
The buyers, Andrew Ferguson and Raymond Crane, acquired 100% of the shares of Railex Limited for an undisclosed sum. Andrew Ferguson is a serial investor in manufacturing and engineering businesses and Raymond Crane has a number of business interests including a successful recycling company in Northern Ireland.
Funding for the transaction was sourced by the buyers using asset backed lending and factoring facilities. The buyers were represented by Robin Gill of Storrar Cowdry.
KBS Corporate spoke to a number of trade buyers however, they only showed interest in one side of the business due to them being unable to specialise in both areas whereas, Andrew Ferguson and Raymond Crane offered the possibility of selling both sides of the company.
It is understood that all shareholders will exit the Company with immediate effect, but will receive rental income from the Southport property going forward having taken control of the freehold in a sale and leaseback transaction.