Muckle LLP recently advised the management team of Standing Stone Drawing Office Supplies Limited in a successful buy-out of the company.
Matfen based Standing Stone was established in 1991 as a supplier of drawing office materials and provider of a complete print machine repair service. The Company has grown rapidly in the last decade and now has offices across the UK and is the largest independent supplier of drawing office materials in the north of England and Scottish Borders.
The management team has purchased the Company from its founder, David Hall. The team consists of Gary Ritson, Managing Director, Simon Buckton, Sales Director, and Andrew Neal, Service Director.
Craig Swinhoe, Associate at Muckle LLP, who led the transaction, said “This is a great transaction to have worked on in the current market place it is difficult to get deals like this funded and away. All of the professionals on this team worked hard to make the transaction happen. We are delighted to have played a part in helping to support an excellent management team”.
Muckle LLP’s banking team led by Louise Duffy advised on the funding for the transaction and its employment team led by Chris Maddock advised on employment issues.
Andrew Neal praises the key role played by the North East business community saying “Having never undertaken an acquisition previously we did not appreciate the detailed process that needed to be undertaken. Our advisers guided us through the transaction from start to completion, and we are delighted with the successful outcome.
Now that we have achieved our first step of acquiring the Company we will continue to use our advisers to assist in our future growth strategies.”
Simon Buckton forecasts significant growth for the company predicting .The economic upturn, with a clear improvement in our customer base’s outlook, together with the established Standing Stone reputation are presenting numerous opportunities.
We forecast turnover to grow by 25% over the next three years.
For more information, help or advise on business growth please email [email protected].