A risk taking couple, who bought a North East joinery firm out of liquidation, are now investing for the future after forecasting a doubling of year-on-year turnover to around £750,000.
We are delighted to announce we recently worked with Mr and Mrs Brunton on their acquisition of Hastie D Burton to allow them to grow this well respected North Shields company.
Despite launching Hastie Burton Joinery Ltd, in the middle of the economic downturn, Adrian and Lisa Brunton have steered the company to success. Revenue for the first four months of the new financial year has already topped total turnover for the year ending March 2014.
A strong reputation for craftsmanship
From its first North Shields workshop, founded in 1903, the company now makes products from windows, doors, bookcases and reception desks, to grand staircases, and also carries out delicate renovation and restoration projects, including replacing listed buildings’ sash windows and replacing pews in ecclesiastical buildings.
Future growth plans
From its strong commercial sector orders, including Bellway, Brims, Northern Construction Solutions and education establishments, the company is on target to double turnover and increase its workforce by at least 50% within the next three years. Adrian and Lisa also plan to tackle the bench joinery skills shortage by taking on one apprentice every year
In a bid to increase the work it currently secures from private customers the company plans to create a showroom, where it can showcase it bespoke products.
Mrs Brunton said: “We hit the ground running and had our first order before we’d even set up our office or bank account, so that gave us the confidence that it could work, despite it being the recession. It has been a struggle at times but we’ve got to the point where we can invest.”
“We’ve done it through dedication, hard work and great craftsmanship. There’s quite a lot of customers who return to us and say they can rely upon us. Adrian and the other joiners give a lot of great advice to customers, so we deliver much more than craftsmanship.”
Jennifer Hirst, Associate Solicitor who worked on the deal commented, “It is fantastic that all of Adrian’s and Lisa’s hard work over the years is paying off and we are delighted to have advised them in obtaining shareholder control of the company. We wish them every success for the future.”
We are also pleased to announce that this deal has also recently been named Insider’s Deal of the Month for September.
For more information, help or advice on other private equity deals please contact Jennifer Hirst on 0191 211 7967.