Nuneaton-based Firstserve Group Limited, one of the UK’s leading suppliers of workshop consumables has disposed of its Arleigh International Limited division.
With over 28,000 customers in the UK market, Firstserve markets nuts, bolts, batteries, cable and other associated products to all sectors of the industrial aftermarket.
Firstserve’s chief executive Geoff MacArthur says this is a strategic disposal that will enable Firstserve to further enhance its core business. “Arleigh is a distributor of parts and accessories to the narrow boat and static caravan sectors. Strategically the business doesn’t fit within our business model and I am delighted to see an MBO team have the opportunity to take Arleigh forward under new ownership.”
Firstserve has a £25 million turnover and employs 285 staff at its Seymour Road facility in Nuneaton. The Arleigh disposal sees the £6 million turnover division, which employs 25 staff, continue to be based at Galley Common in Nuneaton.
Clearwater Corporate Finance plc in Birmingham, led by partner Phil Burns and director Gareth Illey, advised Firstserve on the disposal.
Firstserve is looking to make further strategic acquisitions following its takeover of Dunstable-based Cert Distributors, which the company made in August this year. Cert, which has many similarities to Firstserve, provides dry cell batteries, bulbs and camera film to convenience stores throughout the UK.
“We are on the acquisition trail to grow the business,” adds MacArthur who has been with the business for over 15 years. “And are currently seeking a number of opportunities which will provide the synergies we need to expand further.
Phil Burns, partner with Clearwater added: “Firstserve is a rapidly expanding business with numerous opportunities in its market place. The company will undoubtedly be making further announcements on its acquisition strategy shortly.”
Legal advisers to Firstserve were Pannone & Partners in Manchester led by partner John McMuldroch.