Walls and Ceilings International Limited
“I was originally introduced to the business by John and, in the early stages, we worked hard to help meet the challenges that were apparent as the company and the industry moved out of the recession. I then took on a longer term role and worked with the shareholders to develop and implement a plan to generate growth and improve profitability with an eye on an eventual exit.
At the right time we brought John back in to assess the potential for a sale and then to lead a controlled process where a small group of potential purchasers were identified and contacted before a preferred bidder was selected and taken through to a successful completion.
John’s knowledge of the transaction process was absolutely key to achieving a deal we were happy with, not just in terms of the headline price and structure but also in terms of the detail around factors such as free cash and working capital which ensured that we protected significant value which otherwise may have been lost.
John’s cohesive style not only kept the vendor team together during moments of pressure but also built a constructive relationship with the buyer team which ensured the transaction made progress”
Richard Slingsby – Managing Director Walls & Ceilings International Limited
Walls and Ceilings International Limited was acquired by Charles Tennant & Co (NI) Limited for an undisclosed sum in a transaction advised by Skye Corporate Finance.
Wall & Ceilings International Limited was established in 1981 by Brian Vaughan and developed to become a leading independent distributor of building products to the construction sector in the UK. From branch locations in Warwickshire and Bristol, Walls and Ceilings supplies dry lining sub-contractors, main contractors and independent builders in the Midlands and South of England.
Charles Tennant & Co (NI) Limited is part of the privately owned Tennants Consolidated Limited, a £300m plus turnover organisation with interests across the globe and a focus on chemicals and building products in the UK and Ireland.
Skye Corporate Finance was appointed by the shareholders of Walls & Ceilings International Limited to assess the value of the business and then undertake a controlled sales process involving the targeting of potential purchasers, the negotiation and structuring of the deal and the project management of the process to completion.