The Corporate Team at Trethowans Solicitors has advised the existing shareholders of Traceway Limited on the sale of their majority stake to Chandlers Building Supplies Limited.
Traceway, which trades as Banstead Builders Merchants, is based in Surrey and has previously focused on the supply of heavyside and timber products.
Andrew Cope, Managing Director of Chandlers, commented: "We're delighted to welcome Banstead Builders Merchant to the Chandlers family. Both businesses currently trade successfully in their own right, but by joining forces it becomes possible to exploit a number of significant benefits and opportunities not otherwise available to the individual businesses. These will range from enhanced procurement options to the sharing of central functions and an expanded branch network. I can confirm that all Banstead Builders Merchant staff will remain and it will be business as usual for the customers."
The corporate aspects of the transaction were dealt with by Partner, Mike Watson, alongside Lucy Grey and Jamie Earley.
Senior Associate, Lucy Grey commented: “We were delighted to assist the shareholders of Traceway Limited and wish them all success in the future. This is the second acquisition in as many months which the team here has completed in this sector, following acting for Harlow Bros Holdings Limited on its acquisition of Bolt Building Supplies.”
Former managing director of Traceway, Paul Valler, said: “I’m grateful for the support and guidance we received from Trethowans. I also wish Chandlers every success with the business in the future.”