Stanford Flooring completes buy out deal
One of the UK’s largest independent concrete flooring specialists has been bought out by a local businessman.
Stanford Industrial Concrete Flooring Ltd (SICFL), which is based in West Bromwich, has been sold for an undisclosed amount by the company’s founders, Cliff and Barbara Stanford, to Kevin Louch, who joined the firm in 1998 and has been managing director for nine years.
The company recorded turnover in excess of £30 million in the last financial year, and provides high tolerance concrete flooring to big brands in the UK and overseas such as Amazon, M&S and BMW.
Cliff Stanford said: “Kevin has been with us for nearly twenty years and has done a fantastic job in the day-to-day running of the business.
“Now that we have decided to retire, we feel we are leaving the company in a safe pair of hands with solid foundations in place for it to grow even further in the coming years.”
Kevin, who is also joint-chairman and director of construction organisation Build UK, added: “This deal represents a really exciting opportunity to continue to grow the business in what is a highly competitive logistics and warehouse environment.
“Client demands are ever changing, so our focus is to stay on top of the latest technologies and training methods to ensure we remain the UK’s leading concrete flooring specialist.”
Mark Selby, Corporate Finance director at Baldwins added: “We have been providing accountancy advice to the Stanford family as their company has grown, so we’re incredibly proud to see it going from strength-to-strength.
“It’s quite rare that we are able to advise both parties on a business buy out, but their longstanding relationship and shared business values meant that we were able to do so, which also bodes well for the future of the business.”
Kate Hackett, Corporate Partner at The Wilkes Partnership added: “This is exactly the sort of deal that Wilkes relish being involved with. Managing this deal was a pleasure, all parties involved acted with outstanding professionalism throughout. Myself and the team wish Mr Louch and the Stanfords all the best for their futures.
Richard Griffiths who led the Higgs team of advisers said: “We have worked with Baldwins on several matters over the years, and we were pleased to be invited to offer our support and advice to the Stanford family on this significant deal.”