Saffery Champness’ London Corporate Finance Team, led by Niraj Patel, provided financial and tax due diligence services on the acquisition of Hertfordshire Timber & Building Supplies.
Hertfordshire Timber & Building Supplies adds close to £10 million of revenue and turnover of the combined group will be over £145 million. With the addition of 48 employees from the acquisition, this takes the Lawsons Group’s total employee numbers to 650. Hertfordshire Timber & Building Supplies will retain its brand identity, with the acquisition taking the number of branches operated by the Lawsons Group to 31.
This transaction sees the Lawsons Group continue to grow, following the successful acquisition of AVS Fencing Supplies in February 2020 (read about this here) and the subsequent acquisition of Bell Davis Fencing in October 2020. The acquisition of Hertfordshire Timber & Building Supplies follows a buoyant trading period, as demand for garden and home improvement materials surged during the Covid-19 period.
The Lawsons Group is a family owned business operating across London and the South East of England and will be celebrating its 100th year of trading this year. Paul Rushent, Group Finance Director, commented “Lawsons is in a strong position and is expected to complete further acquisitions over the next 12 months. The Hertfordshire Timber & Building Supplies business is a good geographical fit, and one where we expect to be able to add significant value.”
Commenting on the services provided by Saffery Champness, Paul Rushent added “All of our professional advisors worked well with us on the Hertfordshire Timber & Building Supplies transaction, ensuring that the deal process ran smoothly and that it completed very close to our Target date. Saffery Champness, having worked with us on previous transactions, understand our needs and their sector knowledge is of great value to us during the due diligence process.”