Watersheds, the Swindon based Corporate Finance specialist, concludes the successful sale of Salisbury Caravans for owners Peter and Angela Toogood, to Webbs Motor Caravans.
After acquiring Salisbury Caravans 7 years ago, Pete and Angela decided to realise their investment and focus on their existing significant property portfolio.
“Sadly the initial advisors we engaged were unable to find an appropriate buyer, so when we learned about Watersheds through another deal they had concluded, we didn’t hesitate to engage them. We understand that it’s not easy to find a buyer when you can’t go public with the sale but the targeted and confidential approach taken by Watersheds certainly paid off,” said Pete Toogood.
One of the biggest challenges in selling a business, is not merely to find a buyer, but to find the right buyer, ensuring a successful ongoing future for the business.
“We were determined that Watersheds should find a buyer that is experienced in the distribution of touring caravans, to ensure continuity of the quality supply to our customers. It was also very important to us that our team of dedicated staff were retained,” Pete added.
Andy Cahill at Webbs, a family run Motor caravan business established 25 years ago, with branches in Warminster and Reading, confirmed they will be retaining all eight staff at the Salisbury location and welcome their significant knowledge and expertise in the touring sector.
“The addition of caravan sales to our portfolio, means we will be investing in growing the business further, which will result in job opportunities within the local community.” said Andy.
“Praise goes to Jessica at Watersheds, for her professional approach throughout the negotiations. She proved to be invaluable in the concluding stages of the deal.”
Legal advice was provided by Craig Hardman of Steele Raymond in the completion of the deal.