Watersheds, the Swindon-based corporate finance specialist, has concluded the sale of Salisbury Caravans to Webbs Motor Caravans, the family-owned Warminster-based firm.
Salisbury Caravans owners Pete and Angela Toogood, who bought the business seven years ago, decided to realise their investment and focus on their existing significant property portfolio.
All eight Salisbury Caravans staff will be retained by Webbs, which also has a branch in Reading.
Pete said: “Sadly the initial advisors we engaged were unable to find an appropriate buyer, so when we learned about Watersheds through another deal they had concluded, we didn’t hesitate to engage them.
“We understand that it’s not easy to find a buyer when you can’t go public with the sale but the targeted and confidential approach taken by Watersheds certainly paid off.”
One of the biggest challenges in selling a business is not merely to find a buyer, but to find the right buyer, ensuring a successful ongoing future for the business.
“We were determined that Watersheds should find a buyer that was experienced in the distribution of touring caravans, to ensure continuity of the quality supply to our customers.
“It was also very important to us that our team of dedicated staff were retained.”
Webbs was established 25 years ago in a former filling station in the village of Codford, near Warminster, when husband-and-wife team David and Christine Webb set it up with half a dozen pre-owned motorcaravans.
In 2004 it expanded into purpose-built premises in Crusader Park, Warminster, quadrupling the sales stock. A second dealership was established in Reading in 2009 on a 2-acre site.
The firm welcomed the significant knowledge and expertise in the touring sector of the Salisbury Caravans staff.
Webbs director Andy Cahill, who joined the business in 2000, said: “The addition of caravan sales to our portfolio, means we will be investing in growing the business further, which will result in job opportunities within the local community.
“Praise goes to Jessica at Watersheds, for her professional approach throughout the negotiations. She proved to be invaluable in the concluding stages of the deal.”
Legal advice was provided by Craig Hardman of Bournemouth law firm Steele Raymond.
Watersheds works for:
• Management teams who want to own the business that they run (management buy outs)
• Companies and private individuals who want to sell their business and realise a capital sum.
• Small and medium-sized businesses that want to grow by acquisition.
• Small and medium-sized businesses and entrepreneurs who want to raise finance to grow their business.
* Private individuals who want to buy a business (management buy ins)