Fri, 10 Jan 2020 | BUSINESS SALE
Teesside-based management consultancy firm Headway Point has acquired Cumbrian online catering supplier RG Distributors.
RG Distributors has two warehouses which total 20,000 square feet and specialises in supplying commercial catering equipment online.
Following the acquisition, Headway Point founder Duncan Evershed will seek to grow the combined business to achieve revenue of £10 million over the next five years.
"Supplying catering equipment using an online platform is a new venture for me, but I can see huge potential," Evershed commented. "The business is well structured has a great model that can be further improved to enable growth.”
Headway Point worked on the deal with accounting firm Anderson Barrowcliff, who negotiated and structured the deal. RG Distributors was advised on the sale by Benchmark International.
Discussing the process of acquiring RG Distributors, Evershed said: "While the process been stressful at times, working with Anderson Barrowcliff, along with Archers Law, enabled me to conduct extensive market research knowing the legal and financial due diligence was in safe hands.”
“The Anderson Barrowcliff team also supported me to secure the necessary funding to provide stability while I grow the business."
The Headway Point team in Teesside and RG Distributors team in Cumbria are now co-working via a virtual office and Evershed has said he plans to establish a local office and expand the teams in both locations.
Evershed established Headway Point in 2012, with the accounting firm specialising in the strengthening and growth of small- to medium-sized enterprises.
Deeply embedded in its local community in a lucrative tourist hotspot the company has created multiple award-winning brands which it supplies through wholesale retail and ecommerce channels. Relationships are in place with several leading foodservice...
Offers an extensive selection of products from leading brands, including frozen meat and vegetables, preprepared meals, dry goods and toiletries.
LEASEHOLD
Serves own blend barista coffees, artisan gelato and homemade cakes, as well as offering exceptional service to customers throughout the Midlands, South East England and East England.
FREEHOLD
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