Craig Beale, Lewis Smith & Co. partner and M&A expert, has just helped 2 Black Country entrepreneurs in a million pound acquisition of a leading player in the Automatic Sprinklers market.
Simon Jesson and Richard Pipe had been planning to acquire Fire Security (Sprinkler Installations) Ltd more than a year ago but found themselves struggling to complete the transaction because of a combination of the credit crunch and inertia from their existing advisors.
Fortunately Lewis Smith & Co., the Dudley based accountants, was recommended to them by Lloyds Bank as an alternative. It only took a couple of meetings with Craig to convince the entrepreneurial duo that Lewis Smith & Co. had the “right stuff”.
Simon and Richard commented. “We needed some straight talkers who would fight our corner and just get on with the job. Craig explained what Lewis Smith & Co. would do for us without any jargon and then delivered on his promises. We are really comfortable working with them”
Lewis Smith & Co. performed all of the financial due diligence for the deal and used the firm’s extensive contacts in the finance sector to help the partners to find affordable funding. What made the real difference though was Lewis Smith & Co’s determination to get the deal completed.
As Craig explained “Whenever an objection was raised or another obstacle appeared we took the initiative and sorted things out. We helped raise the money and did a fair bit of handholding of the vendors to keep them on track. Of course it did require some team work and we must acknowledge the contribution of both Lloyds and Talbots Solicitors to making the transaction happen. ”
Fire Security is now on track for ambitious growth with Lewis Smith & Co. providing continued support with monthly management accounts and the provision of a pay roll service. With Simon and Richard’s drive and their knowledge of the industry the future is burning bright for Fire Security!
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