We appreciate how important a sale or acquisition is to our clients, and how stressful the process can be. We will explain and simplify the process for you, while striving to minimise your risks and maximise your rewards.
York-based flooring provider Elvington Floorcraft has completed a management buy-out, with a new generation of the same family taking control.
The buy-out enables Andy Garland to become the sole shareholder of the business, securing employment for the 11 strong workforce.
Elvington Floorcraft has been supplying and installing a wide range of flooring products to commercial and residential customers across York and the wider Yorkshire area for more than 50 years. The business was set up in Elvington, with Andy taking over the management role 23 years ago. It moved to the current premises in James Street in 2000.
Andy is keen to continue running the business in a traditional manner, and with the continued support of his current management team, prioritising in quality and service. He plans to continue to strengthen aspects of the business, such as expanding the range of products sold, and to consolidate relationships with the existing customer base and attract new customers.
Birchfields Corporate Finance, based in Blake Street, York provided strategic financial advice to Andy. Director Graham Garbett said 'The existing business has been running successfully for a number of years, but now has the structure to enable it to reach greater potential. This is a wonderful opportunity for Andy to use his vast experience and knowledge in the flooring industry to help the business grow.'
Legal advice was provided by the Foss Islands office of Andrew Jackson Solicitors. Partner Matthew Smith added ‘We were delighted to be able to assist Andy in the acquisition of what is a well-known local business and wish him every success in the future.’
Copyright © 2021 Birchfields Accountants Limited - All Rights Reserved.
Blake House, 18 Blake Street, York, YO1 8QG