Hazlewoods Corporate Finance team has successfully advised on the sale of a leading UK electrical component supplier to an international PLC.
Specialised Wiring Accessories Ltd was founded in 1988, initially trading from a portable office in Gloucestershire.
Over more than three decades, it has grown to be one of the UK’s most successful and trusted sellers of electrical terminations, fastenings, fixings, and tools, stocking more than 8,000 products, employing 54 people, and operating from 50,000 sq. ft. premises in Wootton under Edge.
Founding Directors, Brian Hands and Garry Ray, have continually developed innovative new products to give SWA the edge over its competitors.
The company has been acquired by Shoal Group, part of FTSE 250 company Diploma PLC, and a supplier of cable products and accessories to more than 53 countries worldwide.
Mark Taylor, Managing Director of Shoal Group, said: “SWA and Shoal Group are a great cultural fit with shared values, similar business models and complementary products and end-markets.
“This acquisition will expand our UK footprint with the addition of a trusted brand, innovative and own-brand products with a strong presence in the UK & Ireland Electrical Wholesale market.”
Paul Fussell, Corporate Finance Partner at Hazlewoods, led the transaction for SWA.
He said: “I would like to wish Brian and Garry every happiness for the future. We have worked with them for many years and witnessed the growth of SWA and the graft and determination which went into making the company such a success.
“The sale of the business is the culmination of a huge amount of hard work and is very well deserved.”
SWA Director, Brian Hands, said: “Paul has been instrumental in helping us to achieve a brilliant result for the sale of SWA. We could not have asked for a more professional and diligent response to all our requests.
"Paul’s guidance and integrity throughout the whole process of the sale was of the upmost professionalism. His negotiating skills ensured that Garry and I were able to achieve the best possible outcome for the sale of our business and Paul kept us up to date throughout the whole process.
"We would strongly recommend Paul to anyone seeking to sell their business.”
If you would like to sell your business, make an acquisition, or are looking for ways to finance your growth plans and would like to find out more about the process, please contact Paul Fussell at paul.fussell@hazlewoods.co.uk or call 01242 680000.