A family-run double glazing company in Wiltshire has been acquired after its owner decided to retire.
Cara Glass, which has its base in Wilton, near Salisbury, was established more than 30 years ago by Peter and Angela Toogood, before their son Dave Lawson took over in 2004.
The business has now been bought by construction company Camer Holdings for an undisclosed sum. Finance specialists Watersheds brokered the deal between Mr Lawson and Essex-based entrepreneur Mark Richardson - the owner of Camer Holdings.
Watersheds partner Wendy Lam said: 鈥淒ave was very clear he did not want to sell to a competitor, so we began looking for buyers within the wider construction sector.
鈥淭he construction market is currently very fragmented, and a lot of buyers are consolidating in this sector, but are not prepared to pay a lot, if any, money for acquisitions. It was therefore important Watersheds find a buyer who understood Cara Glass鈥檚 real potential, and would be able and willing to pay what the company is actually worth.鈥
Ms Lam said Mr Richardson had 鈥渢he energy and vision鈥 to take Cara Glass to "the next level鈥.
Mr Lawson said he had wanted to ensure his 鈥渓oyal colleagues" would continue to enjoy working for the company following its sale. He added: 鈥淚 also wanted to realise the value built up during all the years鈥 work that my family has put into the company.
鈥淲atersheds found me an ideal buyer, they did all the legwork in the background so I only became involved when I needed to be, and the end result is the best I could have possibly hoped for. I can move on to a new stage in my life now, knowing that I have left the company in excellent hands.鈥
Read next:
Former Dragons' Den star and Moonpig founder to open Wiltshire warehouse
Wiltshire butchers supplying top restaurants buys entire industrial estate
Dyson fined 拢1.2m after 1.5 tonne machine falls on employee
Chippenham shopping centre acquired by Acorn Property Group
Like this story? Why not sign up to get the latest South West business news straight to your inbox.
