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Modern Rugs sold to a private individual 

Ben Dale built and ran this successful business which specialised in the supply of modern rugs. He benefitted from a host of contacts, introduced to him by his parents who ran a carpet business in Bishop Auckland. The company offered an extensive selection of over 10,000 designs of rugs, catering for all tastes, markets and price ranges.

The deal facilitated by Avondale gives operational control of the company to Martin Tragen, the former financial director of Timpsons, who oversaw the growth of the shoe repair business from 165 to over 800 outlets. Mike Seery, the former head of corporate recovery at KPMG in the North West, is investing alongside Martin Tragen and will take on a non-executive director role.

Although Ben Dale will continue to hold an equity stake in the company, the transaction will allow him to release capital from the business, with the intention to remain with the company and to focus on his full time role as Commercial Director.

“While selecting the company to work with, Tim (Hardman of Avondale) stood out against others, his knowledge in the whole process of business sale is one of the reasons I chose Avondale. I also liked I was able to deal with him direct and not a team or a front end sales person.”
Ben Dale, director, Modern Rugs

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

 

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