RSM’s M&A and private equity team has successfully advised East Sussex-based Chandlers Building Supplies Holdings Limited on the company's merger with Parker Building Supplies.
What RSM did
The merger, which has been completed with the support of Parker's strategic partner, Cairngorm Capital, will result in an enlarged company with 38 branches operating from the Midlands to the South East, with combined revenues of £180m and over 750 employees.
RSM’s corporate finance advice on the merger included assistance with a group and LLP partnership reorganisation, a property demerger, and liaising with a broad shareholder group, consisting of three families, two trusts, and a number of subsidiary shareholders.
RSM led the transaction on behalf of the vendor, providing financial and tax advice on the deal structure, negotiating all aspects of the deal terms and project managing the transaction to completion.
Transaction team: Kirsty Sandwell, David Rowlinson and Ravi Patel
My objectives were to complete on a successful deal and build a strong relationship with our new partners at Parkers. RSM were instrumental in achieving this for the shareholders, delivering a fantastic deal for all involved. The RSM team managed the process exceptionally well, navigating us through all issues that arose and were integral to the success of the transaction. They became part of the Chandlers team, and were sensitive to the changing emotions we felt as shareholders throughout the deal. I would not hesitate to work with them again.’
Andrew Cope, Managing Director of Chandlers Building Supplies