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Case Study

Gutters & Ladders (1968) Limited acquired by SIG PLC

CONSTRUCTION & CONTRACT SERVICES SECTOR • MARCH 2015

 

The Shareholders of Gutters & Ladders (1968) Limited appointed Leith M&A as sole advisor to support them with the sale of their Company in 2014 in order to pursue their plans for retirement and to secure the future of the Company. The Shareholders decided to work with Leith M &A as they realised the intense, personal service provided by a family run firm was the right choice for them. Between August and December 2014 the research team identified and made confidential approaches to 150 UK based companies in the construction and contract services sector fitting the buyer criteria agreed. The list was narrowed down and refined resulting in Leith M&A presenting a number of competing offers to the Shareholders from a cross section of industry leading corporate buyers and investment groups.

SIG PLC were chosen as the preferred acquirer due to their on-going commitment to the future of the Company, its employees and its clients and their market leading position in the industry. SIG PLC is a leading distributor of specialist building products in Europe, with strong positions in its core markets of insulation & energy management, interior fit out and roofing products. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

Following an intense due diligence process the deal was completed in March 2015 with SIG PLC acquiring 100% of the issued share capital of Gutters & Ladders (1968) Limited for an initial consideration of £3.5m.

Managing Director of Leith Mergers & Acquisitions, David Nelson said, “This is an exceptional deal for all Stakeholders in Gutters and Ladders. The future looks bright for the business and its many customers and we are delighted to have played a part in the continued success of the business.”

The Shareholders of Gutters & Ladders (1968) Limited, Stuart Raphael and Kash Bashir added, “A special thank you to David Nelson & his team at Leith M&A for their effort, advice, opinions & guidance during all the stages of negotiations” 

What challenges arose? How did you navigate them?

The process of selling a privately owned company to a FTSE listed company is always fraught with challenges. The cultures of privately owned companies and large corporates differ greatly and this can have a substantial impact on the ‘marriage’ process. Nonetheless, we were able to complete this deal just seven months after our initial meeting taking our Client’s Company to the market and six months after signing the NDA with the buyer. Looking back, this deal was in actual fact relatively straightforward despite some last minute, late night negotiations on the finer points of the share purchase agreement.

If you would like to talk to us, please give us a call.

If you decide you are ready to market your company and believe our approach is the right one for you we then we would love to hear from you.
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01306 646 890

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ABOUT US
Leith Mergers & Acquisitions is a family-run business based in Dorking, Surrey. We work with only a handful of clients at any given time, allowing us to provide a personal, proactive and intensive service. We pride ourselves on our ability to deeply understand your needs and motivations in order to secure the future you are aiming for.

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