Fri, 29 Oct 2010 | MBO/MBI
Industrial supplies distributor, James Lister & Sons, has been purchased in an MBO by the great great grandsons of the original owner.
Tim, Richard and Mike Cotterill, owners of 35 per cent of the family business, have now bought the remainder of the company from other family members, and have “big plans to expand the business.”
James Lister & Sons, which has been renamed Lister, is one of the largest businesses of its kind in the Midlands, with 12 bases in the West Midlands. Its head office and national distribution centre is based in Smethwick, it also has a trade counter in Abergavenny, South Wales.
The firm, which started out as an ironmongery and hardware shop, was established in 1874 by James Lister. Today it has a total of 150 staff and reported sales of over £14m for last year.
Chairman Tim Cotterill said, “Business across the market continues to improve day by day, although we have not yet returned to the levels enjoyed in 2008, and plans are afoot for us to expand our operations in the near future which will include a rebrand and the launch of our new website very shortly.”
Lister’s new auditors Chantrey Vellacott DFK supported the acquisition. Chantrey’s Nick Simkins commented: “This is a great story for the West Midlands and shows business confidence is returning to the region.”
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