Law firm Gordons advises Pollard Beaumont on sale to Universal Components
Monday 28th July 2008
Law firm Gordons has advised commercial vehicle parts distributor, Pollard Beaumont Ltd, on the sale of its business to Sheffield-based automotive parts manufacturer, Universal Components UK Ltd.
A successful and profitable commercial vehicle parts wholesale distributor, Pollard Beaumont has operations in Sheffield, Haslingden and Trafford Park. The acquisition of this successful company is set to increase Universal Components’ annual turnover from £13.5m to £18.7m.
The deal was negotiated on behalf of Pollard Beaumont by Jonathan Asquez, solicitor at Gordons.
“I originally advised on the deal which brought two businesses together to create Pollard Beaumont,” he said. “It was pleasing to be involved again to advise the founder shareholders on both their current continuing roles and ultimate exit from the business
“I am particularly pleased with the outcome of the deal because the Pollard Beaumont business adds immediate value and future potential to Universal. In what is a very competitive market, this deal will consolidate the position of the group.”
Founding partner, Peter Beaumont, and all Pollard Beaumont staff will continue to work for the company, while the other founding partner, John Pollard, will continue to act as consultant to the group.
Gary Hadley, Chief Executive of Universal Components, said: “The acquisition of Pollard Beaumont brings real advantages to us and our customers in terms of increasing the range, availability and depth of our products. We are still on the acquisition trail and are looking at a number of other companies that will offer us strategic advice as well as growth.”