Manchester steel supplier undergoes MBO

Mon, 03 Sep 2018 | MBO/MBI

A steel tube manufacturer in Greater Manchester has experienced a management buyout (MBO) by the company’s founding family who described the present time as the right moment to strike the deal.

Boole’s Tools and Pipe Fittings Limited was bought back by the family from the listed builders’ merchant.

Located in Stockport, Cheshire, the company was established by Ron Boole and his father, Cyril Boole, in 1961, and produces steel tubes, valves, fittings and allied pipeline products for a range of clients across the country. What started off as a small fledgling business has grown into a multimillion pound organisation in recent years.

Its trading practices have proved successful with a reported annual turnover of roughly £12.5 million.

In 2003, Boole’s was taken over by Grafton Group plc. in an acquisition deal, but has since been acquired back by Terry Seville, the company's managing director, his wife Tracy who is Ron Boole’s daughter.

Seville has faith in that Boole’s has a positive outlook for the years ahead, a result of the successful MBO. He said: “Now is the right time for the MBO, and being independent will allow us both to maintain our strong trading relationship with Grafton and generate new opportunities with other national and independent merchants.”

Ian Riggs from legal firm Hill Dickinson LLP, Jeremy Cole from Cole Associates Corporate Finance, and debt advisor Dave Matkin conducted the proceedings of the deal, with funding provided by corporate relationship director John Gibson from Liverpool’s HSBC Corporate office.

For more news about management buyouts (MBO), click here. For all our business listings, click here.


Share this article



Latest Businesses for Sale

Foams, Rubbers & Plastics Manufacturer
West Midlands, UK

Specialises in the manufacture and supply of bespoke foam, rubber and plastic components, including filters, acoustic foam, protective packaging and thermal insulation. Offers invited.

Asking Price: Offers Invited
Turnover: £2,000,000

LEASEHOLD


Windows, Conservatories & Other Related Products
North West, UK

Supplies and installs an array of bespoke products, such as windows, doors, conservatories, porches, bi-folds and all roofline products. Offers invited.

Asking Price: Offers Invited
Turnover: £1,200,000

FREEHOLD


Led Lighting Solutions
Midlands, UK Wide

Well-established designer, manufacturer and supplier company operating for over 15 years. Creates bespoke LED lighting solutions. Offers invited.

Asking Price: Offers Invited
Turnover: £899,000

LEASEHOLD



View more businesses for sale

News Search

Latest News

 
22
 
Mar
 

Scunthorpe nightclub up for sale | BUSINESS SALE

A former nightclub based in Scunthorpe has been put up for s...

 
21
 
Mar
 

Kent Logistics provider completes a successful acquisition | BUSINESS SALE

A Kent-based personalised logistics provider, backed by Livi...

 
20
 
Mar
 

Warrington construction company enters administration | ADMINISTRATION

A prominent construction business headquartered in Orford Gr...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources