Clearwater Corporate Finance advised the shareholders, including private equity house Dunedin, on the sale of Buildspan, one of the UK’s leading distributor’s of construction products, to SIG Plc for an undisclosed price.
The deal saw Dunedin make a significant profit on its original investment.
Buildspan has developed a reputation as the most reliable national supplier of quality concrete, brickwork and pre-cast accessories, specialising in a next day delivery service to the contractor on site.
The company has three main operations, one at Ash Vale covering the South of England and one at Dronfield covering the Midlands and the North and a new depot near Canary Wharf which is expected to benefit from increased construction activity arising from the nearby Olympic site and regeneration of the Thames gateway.
SIG plc is an international supplier of insulation, roofing, commercial interiors and specialist construction and safety products.
Paul Newell, partner with Clearwater commented: “We only began working with the team at Buildspan last December, but in a short space of time we’ve helped them achieve what is an excellent result for the shareholders. The company is a very good fit with SIG’s business and the sale will help it exploit opportunities for continued growth.”