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Avondale complete sale of Hydralectric to Rockpool 

Avondale is pleased to announce the sale of QVS, the well-known electrical products supplier and online retailer to Ryness Electrical. Established in 1994, QVS operates out of 13 retail units across southern UK and provides an on-line same or next day delivery service on a nationwide basis. Over the last 15 years, the business has developed relationships with factories in the Far East and created its own ranges of branded products. There are over 70 staff.

As the two founder directors take retirement, the acquisition of QVS allows the brand to become a part of a larger group; combining the two companies' stock lines, developing the business and increasing revenues going forward. The sale was completed in just two months.

Ryness Finance Director, Steve Westbrook said, “Avondale’s introduction and assistance in the acquisition was invaluable and we are proud to take such an established brand into our wider Group with plans to develop, grow and expand the business.”

The principle shareholder Peter Brain welcomed the sale to Ryness, adding:

                    “This deal recognises the strength of the QVS business. Avondale not only found a buyer at a critical time but held our hand throughout. We feel sure the business will continue to grow from strength to strength and add value to our customers”.    

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

 

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