Established in 1994, QVS was a well-known electrical products supplier and online retailer, employing more than 70 staff across Southern England.
Over a 15-year period, the founders of QVS had built up the business to become a respected global brand with its own range of branded products, and had developed relationships with factories across East Asia. The owners felt the timing was right to retire and to exit the business. They engaged Avondale to identify a buyer in a position to take the company forward.
Having set to work strategically marketing the business to potential acquirers, Avondale was able to arrange an introduction between the owners of QVS and the directors of Ryness Electrical, an LED lighting specialist and leading independent supplier of light bulbs. With a handsome offer on the table and a plan to develop the business, Avondale’s team were able to guide the negotiations smoothly to a fruitful conclusion that suited the interests of both parties.
The companies agreed Heads of Terms and the sale was enacted just two months after Avondale’s initial engagement. The acquisition has since led to the successful merger of QVS into the wider Ryness group of businesses. With the addition of new stock lines, the new owners are well placed to grow the business and expand revenues. Meanwhile, the vendors have been able to embark on a well-earned retirement.