Wisbech firm is sold to the best buyer with the help of accountancy specialists Price Bailey
- Credit: Archant
An accountancy firm has acted as lead adviser with a Wisbech company to find the best buyer from the UK and overseas.
The Price Bailey Strategic Corporate Finance team led the successful sale of supplier of SB Components, which makes commercial vehicle components.
It has been sold to Elaghmore Partners, an operationally focused private equity firm.
Founded in 1988 by Steve and Joy Bushell, SB initially produced specialised fuel tanks.
Steve said: “You only get to sell your business once, so it is extremely important to have advisers on board who are experts in what they do, and who are with you every step of the way.
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“Since the start Price Bailey has been professional and responsive and has managed the process very efficiently.
“In Elaghmore, I think they have found the perfect partner to take the business forward.”
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Elaghmore Partners recognised the opportunity within the sector to expand in the UK, and also overseas, and will support the existing management team in delivering the growth plan.
Sarah Moores, director in Price Bailey Strategic Corporate Finance, said: “Elaghmore was the best option from both Steve’s perspective, but also for the business going forward.
“The management team can now continue with their plans and have a partner who is hands on and can help them deliver into the future.”
The business has total production capacity of more than 60,000 sq ft and more than 130 employees, generating revenues in excess of £15m.
Its products and services include additional components, services for fleet operators, heavy haulage and a bespoke body build division.