Hazlewoods Corporate Finance has recently advised Severn Distribution, trading as ‘Statesman Appliances’ on their sale to General Contracting (UK) Limited, a City Electrical Factors Limited group company. The Hazlewoods team was led by Corporate Finance Partner, Paul Fussell. Severn Distribution (a family owned partnership) commenced trading as Severn Cooker Sales in 1979, establishing itself in the industry at local level before commencing national distribution in 2001. The ‘Statesman’ brand was established in 2006, supplying kitchen appliances, both freestanding and built in, from premises in Gloucester. Appliances are sourced from around the globe and are mainly sold to independent electrical retailers, builders and developers. Joe Hill, senior partner of Statesman commented “Hazlewoods provided hands on advice and assistance throughout the transaction process, from origination through to completion. Their involvement enabled the transaction in a very professional manner”. Paul Fussell of Hazlewoods Corporate Finance noted "Hazlewoods have been advising Statesman for the last three years, providing accountancy, tax and other support. The partners have invested heavily in product development over the last five years, such that an opportunity now exists for sustainable growth, which City Electrical Factors are well placed to realise. We wish Joe and his family all the very best in their new roles and look forward to seeing the Statesman brand grow under its new ownership”. Hazlewoods Corporate Finance is a leading mid market adviser with a significant track record on acquisitions, disposals and raising finance. We have no preconceptions, and are equipped to work with projects in any sector, and of any size. In 2012 we successfully completed 66 deals valued at £373 million. |