Harbourside, the South West’s newest corporate finance boutique, has completed its first significant deal – helping a specialist UK roof tile firm on its sale to a major Belgian supplier.
Harbourside was spun out of regional accountancy firm Milsted Langdon, which has an office in Bath, last November.
Its team was brought in by Chippenham-based Metrotile (UK), which specialises in distributing lightweight steel roofing, to assist on the deal with Roof Tile Group (RoofTG).
Metrotile UK, which was launched in 2000 as a subsidiary of a New Zealand developer of steel roof tiles, has grown to be the largest in Europe.
Its innovative roofing is used on a wide range of buildings from new homes to large-scale school projects and leisure campuses.
RoofTG, which makes and sells eight brands of roofing products, including Metrotile, sells in more than 150 countries worldwide.
Following the sale, Metrotile UK will continue to distribute RoofTG’s lightweight steel roofing systems across the UK, as well as gaining access to its other brands such as Decra, Tilcor and Gerard.
Harbourside managing partner Susannah Adams, who previously led Milsted Langdon’s corporate finance team, said the deal was the first of many as the team was now working with a number of businesses across the South West and beyond.
“This is an important deal for Metrotile and a great transaction for the regional economy, so we are delighted to have played a part in its success,” she added.
“Although our team have spent many years supporting businesses already, we are excited to have completed our first significant deal under the Harbourside banner and look forward to helping many more business owners achieve successful outcomes.”
Following the sale, Metrotile UK directors Elaine Hulbert, Barry Jordan and David Padmore are continuing in their roles overseeing day-to-day operations, although founder and long-time managing director John Cunningham, has retired.
Mr Cunningham, pictured, said: “I was delighted with the outcome. Observing two sets of professionals conferring in a language I didn’t understand, with much nodding and the odd wry face, was comical. Being told the outcome was substantially more than I had steeled myself for was magical.”
Pictured below: Harbourside Corporate Finance’s team. From left: Olly Pullin, Susannah Adams and Ricki Critchell
