Trethowans completes sale of Milford Building Supplies
One of Southampton’s leading law firms, Trethowans, has successfully completed the sale of Milford Building Supplies to Huws Gray Group, an independent builders’ merchants.
The deal, which completed on 30 September, is one of many Trethowans has completed this year, with the Southampton corporate and commercial team continuing to flourish despite challenging economic conditions.
Acting for the shareholders of Milford Building Supplies, Trethowans adopted a cross sector approach, utilising lawyers across different areas of its business, such as property, regulatory and employment, to provide consistent advice across all elements of the deal.
The Trethowans’ team, led by corporate senior associate Jamie Earley, managed the due diligence process and negotiated the sale agreement after being appointed in July, working efficiently to complete the deal within a tight timeframe.
“Southampton is currently facing tough economic conditions caused by the pandemic, like any other UK city,” said Jamie, who has worked for Trethowans for five years. “However, we have a healthy pipeline of business, with local financiers looking to invest and a backlog of mergers and acquisitions coming to fruition. The next few months look like they are going to be very busy.”
He added: “We were delighted to complete this deal on behalf of the shareholders of Milford Building Supplies, the acquisition is positive news for everyone involved with the business and we’d like to extend our congratulations to the sellers and the new owners.”
Milford Buildings Supplies is based in Leeds and Huws Gray Group in Anglesey and the transaction is one of a number of deals where Trethowans have acted for sellers to the rapidly expanding Huws Gray business.
John Middleton–Walker, Executive Chairman for Milford, commented: “I was understandably somewhat nervous about retaining the right firm to handle the sale of the business, which I founded it in 1979. Trethowans came highly recommended and quite rightly so. The sale was successfully concluded without drama despite a very tight deadline. I found everyone I dealt with at Trethowans to be extremely professional and yet also very practical and pragmatic – a combination that proved to be very effective and produced the required result for our shareholders.”