Smith & Williamson acted as lead corporate finance advisor to building materials business T G Lynes Limited on its sale to Grafton Group plc.
T G Lynes Limited (“T G Lynes”) is a family owned distributor of materials and plant for the mechanical services, heating, plumbing and air movement industries. Grafton Group plc is a predominantly UK and Ireland-based building materials group with nearly 600 branches and a turnover of over £2 billion.
T G Lynes prides itself on its success which it attributes to its wide range of stock, quality of customer service and the experience and knowledge of its staff. Based in Enfield, North London, T G Lynes services London, the South East and beyond from its modern, purpose-built distribution centre with in excess of 48,000 sq. ft. of office and warehouse space.
The business has grown impressively in recent years with revenue in 2014 in excess of £18 million, more than twice the level of sales when the current management team took over in 2005. This acquisition helps gives Grafton a strong position to capitalise on the improving market over the next few years.
Brian Livingston assisted by Simon Beavis and Stuart Goodman led Smith & Williamson’s Corporate Finance team on this transaction, which represented an excellent example of the firm’s experience in coaching and supporting owner managed businesses through a sale process.
Martin Lynes, Chief Executive – “Brian Livingston and the Smith & Williamson team provided hands-on and tireless support to help us achieve a successful sale. Their experience and expertise guided us through the entire process and we were very impressed by the professionalism and creativity of the team. I can thoroughly recommend S&W for anyone contemplating a sale of their business.”
Brian Livingston, Managing Director and Head of Mergers & Acquisitions at Smith & Williamson – “It was a pleasure to work closely with the T G Lynes board throughout the transaction and deliver a very smooth sale process which recognised both the strategic value of the business and its strong culture.”
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