West Wales and family-owned designer and manufacturer of steel-framed buildings, Shufflebottom, has been acquired by Embrace Steel Group in a multi-million-pound deal.
Cross Hands-based Shufflebottom, which was established in 1977, is one of the 海角视频’s largest independent providers of steel-framed buildings for the industrial, commercial, agricultural and equestrian sectors. The company also produces high quality structural steelwork for construction projects across the 海角视频 and beyond.
As well as its Carmarthenshire HQ, Shufflebottom has sales offices in the east of England and Scotland. Employing 85 and with annual sales in excess of £25m, it has a growing portfolio of projects for main contractors and major construction projects across the 海角视频.
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The exact value of the multi-million-pound deal has not been disclosed. Cardiff-based Gambit Corporate Finance acted as lead advisor to the shareholders of Shufflebottom on initiating, negotiating and structuring the transaction. Following the deal the Shufflebottom board of directors will maintain their current executive roles and play a key role in driving the business forward under Embrace’s ownership.
Embrace is a leading provider of steel frame building solutions, offering a comprehensive range of products and services to customers across various industries.
The Gambit team was led by Frank Holmes (partner), Simon Marsden (director) and Sean David (analyst).
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Alex Shufflebottom, shareholder and director of Shufflebottom, said:“Taking the decision to sell your family business is a huge one to make, and to have the right people with you on the journey was so important. It was an absolute pleasure to work with Gambit, particularly Frank and Simon, who drove the whole deal from start to finish. The deal that they negotiated whilst taking into account all of our requirements for Shufflebottom for the future was fantastic. The level of support and guidance that they provided along the way in such a professional manner was truly outstanding.”
Mr Holmes said: "We are delighted to have acted for the Shufflebottom shareholders on this transaction. Shufflebottom is an excellent business, steeped in heritage and is a true market-leader in its field. The shareholders have done an outstanding job developing the business under their ownership whilst remaining faithful to the “family values” enshrined in its roots.
" This is a great example of a succession strategy which enables the shareholders to continue in their roles, preserving the legacy and cultural values embedded in Shufflebottom’s success.”
Mr Marsden added: "This transaction is testament to Gambit’s knowledge of and ability to access appropriate strategic buyers and our ability to deliver outcomes which exceed shareholder expectations. Every transaction brings its own specific dynamics and nuances. With our tailored approach and unparalleled experience, we are again able to deliver a solution that meets all stakeholder objectives.”
Blake Morgan provided legal advice to the shareholders with its team led by partner James Williams.