Leading commercial law firm Thrings has completed the sale of independent South West builders’ merchants Ashmead Building Supplies Limited to fellow building materials supplier, Bradfords Building Supplies, for an undisclosed sum.
The transaction was led by company commercial partner Alex Pyatt and solicitor Sarah Ellis of Thrings, who advised Tony Swain, managing director of Ashmead Building Supplies, and his team on all strategic and legal matters. This included managing the due diligence process, liaising with multiple shareholders and limiting the seller’s liability under carefully negotiated warranties.
Finance and tax advice was provided by director Laura Green and tax specialist Sarah Thornber of Bath- and Melksham-based accountancy firm, O’Hara Wood. Bradfords Building Supplies received legal advice from Clarke Willmott.
Founded in 1979 and employing 14 specialist staff at its two sites in Avonmouth, Bristol and Willand, Devon, the family-run Ashmead Building Supplies Limited specialises in the supply of heavy building materials including drainage, timber, aggregates and landscaping products.
Bradfords Building Supplies, which has 43 branches in the South West and West Midlands, is one of largest independent builders’ merchants in the UK. Part of The Bradfords Group, it has specialised in the supply of building materials and products – including roofing, drainage, timber, doors and windows, tools, bricks, ironmongery, kitchens and bathrooms – for more than 240 years.
Under the terms of the transaction, all 14 members of Ashmead Building Supplies’ staff will join Bradfords Building Supplies. Meanwhile Tony Swain will retire from the company after 31 years’ service.
Tony Swain said: “I am very pleased that Ashmead has become part of the Bradfords family. With the resources of a large independent, reputable, and well-founded company, I know that it will thrive in the years to come.
“My thanks go to the directors, staff, suppliers, and customers who have all contributed to the growth and success of Ashmead over the past 36 years, and who should all benefit from this important development.”
Alex Pyatt added: “Ashmead Building Supplies is a well-respected family-run business which has built a strong reputation for proving an efficient, knowledgeable and friendly service to customers in the south of England for more than 35 years.
“Due to Bradfords’ solid financial foundation and extensive distribution network, this transaction will help secure the long-term future of Ashmead Building Supplies and its staff while ensuring its customers benefit from an even wider range of high-quality building materials and services.”
