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Calder Foods sold to US based Flagship Group

Avondale were instructed by the majority shareholder Keith Morris to manage the sale of his business. Established in 1989, Heat Combustion Supplies Ltd is a £4.2m turnover distributor to the HVAC sector. Keith Morris decided to sell in order to spend more time in America and also pursue other business interests.

Avondale conducted extensive research and approached a number of potential businesses, attracting many potential acquirers. Meetings took place and offers were presented, they were thoroughly vetted and negotiated through to offer acceptance.

The eventual acquirer, Newbury Investments, is a part of a substantial family business which trades extensively across North America, UK and Australia in the distribution space. They already own a distributor in the HVAC industry, providing a strong commercial fit and presented a deal structure in alignment with the vendor’s objectives. Avondale managed negotiations to achieve optimum sale price and structure for all. 

“I am delighted with the success of my business sale, Avondale not only negotiated the deal value and structure that was everything I hoped for but also the handover period I was looking for. As a result I am able to move on without delay.”
Keith Morris, director, Heat Combustion Supplies

To talk to Avondale about your objectives, call 01737 234892 or email iod@avondale.co.uk


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