Sitemaster Supplies
sold to Employee Ownership Trust
INDUSTRY
For almost 30 years, Sitemaster Supplies Limited has been a leading ironmongery and specialist building products distributor to housebuilders and contractors with a reputation for their efficient and high-quality customer service.
Having assessed the benefits of other exit options, the current shareholders identified employee ownership as the best strategy to secure a strong foundation and succession plan, with every member of their team having the opportunity to try and realise their ambitions and achieve their goals.
The sale was completed at full commercial value with Avondale overseeing the entire process, including valuation, HMRC clearance, establishment of the trust company and legal documentation.
“We have always put our people first. Transitioning the business to our employees into the EOT ensures that this ethos will continue to shape the company’s future. This is an exciting step to benefit both employees and customers, the decision being driven by the desire to sustain growth and innovation in an ever-changing industry.
We would like to express our gratitude to Avondale, and in particular Sally and Jo, for their patient and professional guidance, which resulted in a successful outcome as our company transformed into an EOT. We would highly recommend their services to anyone looking to achieve an exit from their business.“
Alan & Tracy Chappell, Sitemaster Supplies
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