A deal has been reached over the sale of fencing company John Grimes Sawmills.
BPS, the Warwick-based builders merchant, has taken over the Wolverhampton firm headed by husband and wife entrepreneurs John and Margaret Grimes.
Midland corporate finance specialist RSM Tenon assisted what has been described a “strategic sale”. BPS can now self supply one of its most popular fencing panel products made by John Grimes.
John Grimes Sawmills was established 28 years ago to provide heavy duty products to fencing contractors and builders merchants all over the UK. In recent years, the firm has expanded and has a turnover of more than £2.5 million on fencing panels alone.
Mr Grimes said: “It was a good outcome both for our company and BPS. This deal will take the company forward, while keeping a solid service for our customers. RSM Tenon’s involvement in the deal was essential and created a smooth deal.”
Emma Dibble of BPS said: “We believe that there is perfect synergy between BPS and John Grimes Sawmills and look forward to an exciting new chapter in BPS’s history. Throughout RSM Tenon’s facilitated the acquisition with utmost professionalism”.