“John led the shareholders through the exit of our investment in SDL Auctions. As a highly experienced corporate financier, with great interpersonal skills, he provided a wealth of support to secure the right deal with the purchaser. John delivered on all fronts, working with a wide range of stakeholders, with different motivations, to help achieve a complex but successful exit.”
David Bellis – Investor at BGF
SDL Auctions Limited was acquired by Eddisons Commercial (Holdings) Limited in a deal worth up to £3.25m.
SDL Property Auctions is a leading provider of live stream auctions in relation to residential and commercial properties and land. Employing over 40 people, the business offers over 2,000 lots for sale annually across the UK with particular strength in the Midlands, South East and Scotland.
Eddisons is a fast-growing, highly acquisitive auction business and is part of the listed Begbies Traynor Group Plc. The acquisition of SDL Property Auctions was the fourth undertaken by Eddisons within twelve months.
Skye Corporate Finance was appointed to work with management and stakeholders of SDL Auctions to project manage the sale process and protect the value in the deal with a particular focus on value adjustment factors such as cash, debt and working capital. The deal provided a successful exit for BGF from its minority investment in SDL Property Auctions.