Friday, September 24, 2021

Multimillion-pound acquisition of Rotherham vehicle components supplier completed

A multi-million-pound acquisition of a £16 million-turnover Rotherham-based commercial vehicle components supplier has been completed.

3G Truck and Trailer Parts (3G) was established 11 years ago by Richard Ash, Stewart Ashall and John Carr with John Bruce and Peter Beaumont as investors and was sold to TVS Europe Distribution in 2020.

The transaction was subsequently voluntarily referred to the Competition and Markets Authority, which directed TVS to dispose of its shareholding.

Following a competitive sale process, a joint venture between Bruce, Beaumont and commercial vehicle brake specialist Thos Winnard & Sons agreed a deal to buy back the company.

BHP Corporate Finance, led by Don Gray and Declan Savage, acted as lead advisors to the buyers.

Declan Savage, Assistant Director at BHP Corporate Finance, said “3G has grown significantly over the past two years and we are delighted to have assisted John and Peter to buy back the company they helped to found and grow into the successful business it is today. I have no doubt that under their leadership it will continue to grow further.”

HSBC provided a combined acquisition finance and working capital facility to support the transaction.

Chris Alsop, Relationship Director at HSBC, said: “This impressive management team have a great opportunity to grow this well-established business even further – I am very confident they will do so and am pleased that HSBC have been able to support them on this journey”.

Yorkshire law firm Gordons provided legal advice to the buyer. Gordons corporate partner Jonathan Asquez led on the deal assisted by corporate solicitors Lisa Murphy and Andrew Moore.

HSBC were advised by Richard Goodall of FRP Advisory (financial due diligence) and James Burdekin of Knights plc (legal advice). Schofield Sweeney acted for TVS.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 pandemichaving a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £31.50 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.

Latest news

Related news

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.