East Yorkshire-based bespoke worktop specialist Marble Building Products, has been sold to London-based, investment company, HLD Group. They were advised on the successful deal by members of the corporate finance team from the York office of Leeds and York-based accountancy firm and Connect Yorkshire Partner, Garbutt + Elliott.
Founded in 1989 and run by brothers Nick and Dave Bendell, the company manufactures bespoke kitchen worktops, bathrooms and solid stone products from their facility in Full Sutton near York. Clients for the group include major contractors and blue-chip kitchen retailers, including the group providing marble for the new Tottenham Hotspur stadium in London. The company also has its own fleet of installers throughout the UK, installing over 8000 kitchen counter tops a year.
Partner Tony Farmer and Senior Corporate Finance Manager, Stephen Garbett, from Garbutt + Elliott worked closely with the vendor to identify a suitable buyer which would enable the owners to secure the future of the business and help fulfil their personal ambitions.
Marble Building Products is part of a wider Marble Building Products Group, which has a turnover of £15m and employs 152 people. As part of the deal, the private investment firm has also acquired another company within the group; mezzanine floor manufacturer Storplan Racking. Both Nick and Dave Bendell continue working within both of the group’s businesses.
HLD Group focuses on industrial businesses with revenues up to £200m and adds the complementary companies to its existing portfolio, which includes one of the UK’s largest independent kitchen sink and bathware manufacturers.
Commenting on the deal, Dave Bendell, joint Managing Director at Marble Building Products, said, “The team at Garbutt + Elliott were crucial to the success of this deal. They were meticulous with every aspect, providing informed and valuable practical advice to both parties throughout, making for an altogether smooth process.”
Tony Farmer added, “These businesses are an excellent fit and complement each other perfectly. Both parties have achieved a satisfactory outcome, with the sellers of Marble Building Products still maintaining an active role in the business and its buyers adding a complementary business to their portfolio. It was a great pleasure to work on this deal and witness first-hand the positive outcomes for all parties that we helped secure. We wish the best for both businesses and their employees in the future.”
Last Financial year, Garbutt + Elliott’s corporate finance team advised on 44 deals totalling £100m across a variety of sectors including manufacturing, engineering, distribution, printing, brewing and technology. Garbutt + Elliott has 11 partners and advises businesses throughout Yorkshire across a range of sectors including manufacturing, food, digital tech and creative, construction, leisure and charities.
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