Multi-million pound sale of building supplies firm to regional group handled by GL Law

January 13, 2021

Bristol law firm GL Law has advised an independent building supplies firm on the sale of its assets and shares to South of England timber and builders’ merchant group Sydenhams.

Single-outlet Staverton Building Supplies, based near Cheltenham, has built a strong reputation over several decades for personal service and long-lasting relationships with their customers. 

The multi-million pound, which also included a related company Isobar Properties Limited, takes Bournemouth-based Sydenhams’ portfolio of sites to 31 in a region stretching from Hampshire to Oxfordshire, Dorset, the Isle of Wight and Channel Islands and now Gloucestershire.

Its outlets span timber and builders’ merchants, specialist timber centres, kitchen and bathroom showrooms, tool and plant hire and timber engineering and include a specialist timber centre in Bristol.

The GL Law team advising on the deal, which completed just before Christmas, was led by head of corporate and commercial Paul Hardman and included head of commercial property Julian Pyrke  and corporate solicitor Karen Davies.

As the transaction took place at the height of the Covid-19 pandemic, GL advisors continued to provide support during the acquisition in line with government safety advice by using the latest technology to make certain that client service went unaffected. 

Paul Hardman, pictured right, said: “We are delighted to have acted for Staverton Building Supplies on their sale to Sydenhams. Staverton is an established business with a proven track record in providing outstanding service to its long-term customers. We’re proud to have supported them through a key time in their history.”

For Julian Pyrke, pictured below, the deal continued his relationship with Staverton’s directors Mark Hanks and Mansell Husselbee, having first instructed them more than 20 years ago while working at Gloucestershire law firm BPE when they had sold their previous building suppliers. 

“I have now come full circle with Staverton Building Supplies having acted on the original purchase of their site back in 2001,” he said.

“I had dealt with the site alongside the various lettings over the years and closed the circle with this transaction. It has been a privilege to advise and provide support on their journey and I wish them all the best for the future.”

Sydenhams was founded in 1874 as a timber importer. Its managing director Lee Wright said the company was delighted to welcome Staverton Building Supplies to the group.

“Stavertons is a fantastic well-run independent merchant with a very loyal customer base and we look forward to continuing their good work and growing the business to enhance both the service and product range that they currently offer,” he said.


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