Sale of FG Chambers & Co Limited

Meta Corporate Finance, the independent corporate finance specialist, is pleased to announce the sale of FG Chambers and Co Ltd to Boards (Leeds) Ltd. The sale provided the exit opportunity for the institutional shareholders, Royal Bank Development Capital, Kleinwort Benson Development Capital and Elderstreet that together funded the original MBO in 1996.

FG Chambers, based in Stoke-on-Trent, is a specialist distributor of timber based products to a wide range of end users, merchants and retailers including outlets such as Focus Do It All and Great Mills. Boards (Leeds), the UK’s largest independent distributor of melamine faced products, operates in the same market and has a focus in the North of England. With a combined turnover of around £47m the consolidation of Boards and FG Chambers creates a significant force in its market place.

Commenting on the sale, Mark Ledger-Beadell, Director of Meta, said: “The sale of FG Chambers was very satisfying, not least as it represents the first transaction completed by Meta Corporate Finance, since its incorporation in July of this year. Martin Rees had been previously appointed as Chairman of FG Chambers by the Institutions. Subsequently, Meta was appointed to manage the sale process. Martin’s involvement as both Chairman of Meta and FG Chambers meant that Meta were able to be on top of the issues as they arose and unlock significantly more value for the shareholders than in a traditional situation.”

Martin Rees, Chairman of F G Chambers, said: “The institutions’ initial requirement was for a hands-on Chairman. Due to the consolidation in FG Chambers’ market sector it became apparent that a sale of the business was in the best interest of all stakeholders. It was extremely pleasing to complete an assignment with such a positive outcome in a relatively short period of time. Meta expects to apply a similar recipe of hands-on management and professional transaction management for other institutional shareholders.”

 

Advisers for Company Shareholders:
 

 

Corporate Finance: Mark Ledger-Beadell, Meta Corporate Finance 

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